OECD Employment Outlook 2011
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OECD Employment Outlook 2011

The OECD Employment Outlook is an annual publication that surveys labour market conditions in OECD countries and analyses issues of interest to researchers and policy makers. The 2011 issue highlights policy issues related to: the recent economic crisis and the adequacy of income support for the unemployed; social protection and labour markets in emerging economies; earnings volatility; and qualifications mismatch. In the wake of the global economic crisis, the question of how unemployment benefits and other income support schemes can best cushion income losses during a deep recession is examined. More generallly, the risk of large declines in earnings during recessions is analysed and structural labour market reforms are identified which can reduce earnings volatility over the business cycle.

The recent global crisis has also highlighted the importance of social protection schemes in emerging economies, and the Outlook shows how they can be cost effective when they are adapted to national labour market conditions such as a high incidence of informal employment. In all countries, a strong and sustainable economic recovery is more likely if workers have the skills that employers require and are employed in jobs which make good use of their skills. New measures of qualification and skill mismatch are presented and lessons drawn for education systems, life-long learning institutions and labour market policies.

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Publication Date :
15 Sep 2011
DOI :
10.1787/empl_outlook-2011-en
 
Chapter
 

Unfinished Business

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Author(s):
OECD, John P. Martin
Pages :
11–14
DOI :
10.1787/empl_outlook-2011-2-en

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Two years into the recovery from the financial and economic crisis, OECD economies have resumed generating jobs at a sufficient pace to start making a dent in the large numbers of the unemployed who lost their jobs or failed to find one during the crisis. The number of people unemployed in OECD countries reached a peak of 47.5 million in the fourth quarter of 2009, but by June 2011 had declined to 44.3 million, still some 13.2 million higher than just prior to the crisis. And the OECD harmonised unemployment rate had fallen to 8.2% in June 2011, down 0.6 of a percentage point from its post-war high of 8.8% in October 2009.
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