Sustain growth that benefits all

The upswing in the global economic outlook creates opportunities to make economic growth beneficial to all. This chapter charts the outcomes of growth for people to understand better whether economic growth is being translated into rising living standards across different groups of population in terms of income, gender, age and region of residence. Despite recent improvements in some countries, more progress is needed to transform productivity gains and job creation into increased living standards for all. Income and wealth inequality remains at high levels in some OECD countries and the spread is growing. The bottom of the distribution remains at high risk of falling further behind, while the top 1% are pulling further ahead. Gaps emerge and are growing in other areas too. These trends are also prevalent across regions and indeed, age-groups, which is of particular concern given ageing societies, principally in developed countries. Responding to these challenges requires an emphasis on policies that put inclusive growth at the centre, with an emphasis on: product and labour market policies and educational policies that are key for equitably sharing productivity gains fair and efficient redistribution systems ensuring the finance sector works for everyone in society promoting regional catching up, and providing youth with a strong start to their educational and working lives.