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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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The role of skills in early labour market outcomes and beyond

This chapter draws on the OECD’s international Survey of Adult Skills to shed light on how different skills contribute to two key labour market outcomes for young people (16 to 29): the risk of not being in employment nor in education or training and, if in work, the level of hourly wages. The skills areas covered include: educational attainment; information-processing skills (literacy, numeracy, and problem solving in technology-rich environments); generic skills (the ability to organise one’s own work or influence that of others, to work in a team and to solve complex problems); and skills specific to fields of study and training. The chapter also assesses the extent to which employers make the best use of young people’s skills in the labour market and identifies those skills areas most prone to mismatches between what workers can do and what their job demands. Finally, the chapter identifies the main policy levers that are most likely to influence the way in which employers recognise and reward their employees’ skills. This provides new insights to policy makers, strengthening previous findings based chiefly on returns to education.

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