OECD Employment Outlook 2022

Building Back More Inclusive Labour Markets

image of OECD Employment Outlook 2022

Two years into the pandemic, economic activity has recovered faster than expected. However, the labour market recovery is still uneven across sectors and is threatened by the economic fallout from Russia’s aggression against Ukraine, which has generated the fastest growing humanitarian crisis in Europe since World War II, sending shockwaves throughout the world economy. The 2022 edition of the OECD Employment Outlook reviews the key labour market and social challenges for a more inclusive post-COVID‑19 recovery. It also examines the policies to address these challenges and the outlook ahead. Particular attention is given to frontline workers and groups lagging behind in this recovery (young people, workers with less education, and racial/ethnic minorities). The Outlook also addresses a number of long-standing structural issues that have a key relevance for labour market inclusiveness, such as employer market power and its labour market consequences, the role of firms in wage inequality, and the effect of working time policies on well-being and economic outcomes.

English Also available in: French

Editorial: Bold action is vital to support living standards of the most vulnerable

The OECD economies and labour markets have bounced back strongly from the COVID‑19 pandemic, but Russia’s unprovoked, unjustified, and illegal war of aggression against Ukraine is clouding the horizon. The war is first and foremost a human tragedy, causing the loss of innocent lives and the largest humanitarian refugee crisis since World War II. Several million Ukrainians – mostly women and children – have fled their country in search of refuge in other European countries and beyond. The conflict also risks sparking an economic and social crisis, adding significant uncertainty to the global outlook. The OECD has revised its GDP projections in June to 3.0% for 2022 (down from 4.5% in the December 2021 projections). Besides, sustained inflation is projected to erode real household incomes.

English Also available in: French, German

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