Job Market Monitor
OECD
Spain / 69 percent jump in NEETs between 2008 and 2011
One in four Spaniards aged 15–29 who have completed tertiary education, such as vocational training or the Bachillerato, are NEET — or neither employed nor in education or training Continue reading
Education stills matters finds OECD: Youth Unemployment rates are nearly three times higher among people without an upper secondary education
Unemployment rates are nearly three times higher among people without an upper secondary education (13% on average across OECD countries) than among those who have a tertiary education (5%). Continue reading
UK / OECD warns over NEETs (Not in Education Nor in Employment)
In the UK, almost a quarter of British people under the age of 30 who do not have secondary school qualifications such as five good GCSEs are neither employed, nor in education, or training, and known as “Neet” Continue reading
Immigration, ‘not a problem’ writes OECD
A 2011 study in five European countries and the United States found that at least 40% of respondents in each country regarded immigration as “more of a problem than an opportunity”. More than half the respondents in each country also agreed with the proposition that immigrants were a burden on social services. This sense that … Continue reading
Turkey / The worst employment numbers among all OECD countries
The worst employment numbers are in Turkey among all OECD countries, according to a new survey of the organization. Employment levels are lowest in Turkey (48 percent), Greece (56 percent) and Hungary (56 percent) while are highest in Iceland (79 percent), Switzerland (79 percent) and Norway (75 percent). Nearly 66 percent of the working-age population aged 15 … Continue reading
OECD / Endorsement of the Action Plan for Youth
OECD governments have committed to stepping up their efforts to tackle high youth unemployment and strengthen their education systems to better prepare young people for the world of work. Endorsing the OECD’s Action Plan for Youth at the Organisation’s annual Ministerial Meeting in Paris, ministers underlined the need to focus attention on the most disadvantaged … Continue reading
Russia / Human capital development is the challenge says OECD
To pursue economic growth, Russia must develop its human capital, which requires structural reforms in education, healthcare and pensions. These, in turn, must respond to major trends in service provision, including the increasing role of individual choice, the need to deliver lifelong learning and healthcare, and the risk that Russians will increasingly buy services abroad, … Continue reading
Child poverty has risen in 16 OECD countries since 2007
Income inequality increased by more in the first three years of the crisis to the end of 2010 than it had in the previous twelve years, before factoring in the effect of taxes and transfers on income, according to new OECD data. The analysis says that the welfare state has cushioned the blow for many … Continue reading
Korea / Only 43 per cent of Laid-Off Workers Find New Jobs
Up to 1.13 million workers in Korea are laid off every year, but only 43 percent of them manage to find a new job within 12 months, according to an OECD report released early this month. The report, entitled “Back to Work: the OECD review on displaced workers,” says 2.5 percent to 5 percent of … Continue reading
Ireland / Retirement age should rise says OECD
A sweeping pensions shake-up would see people forced to work longer, hand over more of their income, and be means tested on payments they receive. The recommendations are contained in a hard-hitting report from the OECD and strongly signal that the retirement age — already set to be pushed back to 68 — should be … Continue reading
The employment situation continues to deteriorate says OECD
Global economic activity is picking up, but the continuing crisis in the euro area is delaying a meaningful recovery, the OECD said in its latest Interim Economic Assessment. The Assessment, presented in Paris by Chief Economist Pier Carlo Padoan, says that the G7 economies are expected to grow at an annualised 2.4 per cent rate … Continue reading
US / The Rest of the World is in Recession
We have quarterly GDP data for 11 more OECD countries since our last post “World plunges into recession in Q42012“, and there have been some 2nd estimate revisions (such as the U.S). The chart below shows an improvement over the last post we made with the inclusion of more data points, but both the measures … Continue reading
US vs OECD / Minimum Wage Is Relatively Low
President Barack Obama proposed last night that the United States raise the minimum wage to $9.00 per hour. While that may seem like a massive raise for low earners — the current minimum wage is $7.25 per hour — we learned that when accounting for the impact of inflation this would be far from the … Continue reading
What is the 2nd largest economy in the world ? ANSWER: System D
It used to be that System D was small — a handful of market women selling a handful of shriveled carrots to earn a handful of pennies. It was the economy of desperation. But as trade has expanded and globalized, System D has scaled up too. Today, System D is the economy of aspiration. It … Continue reading
Inequality on the rise in most OECD countries
“In the three decades prior to the recent economic downturn, wage gaps widened and household income inequality increased in a large majority of OECD countries. This occurred even when countries were going through a period of sustained economic and employment growth” writes the OECD in its 2011 report An Overview of Growing Income Inequalities in OECD Countries. … Continue reading
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