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OECD Employment Outlook 2014

image of OECD Employment Outlook 2014

The OECD Employment Outlook 2014 marks the 20th Anniversary of the OECD Jobs Strategy and includes chapters on recent labour market developments with a special section on earnings/wages, job quality, youth employment, unemployment and unemployment rates, and forms of employment and employment protection. As in previous editions, the 2014 OECD Employment Outlook monitors recent labour market developments in OECD countries and Key Partner economies and identifies appropriate policy action to foster more and better jobs.

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Executive summary

Unemployment remains well above its pre-crisis levels in many OECD countries despite a recovery in job growth. Modest declines in unemployment are projected over the rest of 2014 and in 2015. The persistence of high levels of unemployment has been translated into a rise in structural unemployment in some countries, which may not be automatically reversed by a pick-up in economic growth, as it has led to a loss in human capital and motivation to find work, especially among the long-term unemployed. For the OECD area as a whole, 16.3 million people – over one in three of the unemployed – had been out of work for 12 months or more in the first quarter of 2014, almost twice the number in 2007. Given these developments, promoting demand should remain a key policy objective where the recovery has been less robust, accompanied by reinforced measures to combat structural unemployment. Priority should be given to employment and training measures for the long-term unemployed who typically face significant barriers to finding work and are most likely to quit the labour force.

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