Job Creation and Local Economic Development

image of Job Creation and Local Economic Development

This publication highlights new evidence on policies to support job creation, bringing together the latest research on labour market, entrepreneurship and local economic development policy to help governments support job creation in the recovery. It  also includes  a set of country pages featuring, among other things, new data on skills supply and demand at the level of smaller OECD regions (TL3).

This publication is the first in a series to take this integrative approach, and it is designed to be user friendly and accessible to all government officials, academics, practitioners and civil society with an interest in local economic development and job creation.

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Escaping the low skills equilibrium trap

To support job creation and increase productivity, employment and skills agencies need to focus not only on the acquisition of skills, but also the better utilisation of skills in the workplace. There is considerable variation in the supply and demand for skills at the local level. Some regions experience a situation known as “low skills equilibrium” where low levels of skills in the population are met by a low level of demand for skills from employers. Policy makers can help to drive up skills demand and utilisation in such regions through providing technical assistance and management training, and through embedding skills policies in broader mechanisms for business support and strategic development. A wide number of local stakeholders can be involved, including employer associations, universities, vocational training institutions and unions.

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