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OECD Employment Outlook 2012 - Product Image

OECD Employment Outlook 2012

  • Published: July 2012
  • Region: World
  • OECD Publishing

Waiting for the Recovery: OECD Labour Markets in the Wake of the Crisis

The economic recovery has been weak or uneven and some countries have fallen back into recession. This chapter examines the implications of the lack of a vigorous recovery for OECD labour markets. Its main findings are threefold. First, almost three years since the start of the economic recovery, economic growth has not been strong enough to make more than a small dent in the cyclical hike in OECD-wide unemployment. Second, there has been an increasing marginalisation of the jobless through an increase in the number of long-term unemployed and of discouraged workers leaving the labour force. Third, there is a growing risk that at least part of the cyclical increase in unemployment may become structural even if this has only materialised to a limited extent so far. From a policy perspective, the key priority is to underpin aggregate demand.

This requires appropriate macroeconomic policies coupled with structural reforms that promote a prompt and solid recovery in output and job creation. Labour market policies also have a key role to play in helping unemployed job seekers get back into work and addressing READ MORE >

Editorial: Achieving a Sustainable Recovery – What Can Labour Market Policy Contribute?

Chapter 1. Waiting for the Recovery: OECD Labour Markets in the Wake of the Crisis
-Key findings
-1. Recent labour market developments and future prospects
-2. A growing marginalisation among the jobless?
-3. Has structural unemployment started to increase?
-Conclusions
-References
-Annex 1.A1. OECD Labour Market Projections from May 2012
-Annex 1.A2. Job-vacancy Statistics

Chapter 2. What Makes Labour Markets Resilient During Recessions?
-Key findings
-Introduction
-1. The impact of the global financial crisis on labour markets and the role of policies: A first look
-2. Macroeconomic analysis of the role of structural policies and institutions for labour market resilience
-3. Microeconomic analysis of the role of structural policies and institutions for labour market resilience
-Conclusions
-References

Chapter 3. Labour Losing to Capital: What Explains the Declining Labour Share?
-Key findings
-Introduction
-1. Trends in the labour share
-2. What explains the within-industry decline of the labour share?
-3. Collective bargaining, workers’ bargaining power and the labour share
-4. Minimum wages, employment protection and the labour share
-Conclusions
-References
-Annex 3.A1. Data Construction and Sources

Chapter 4. What Green Growth Means for Workers and Labour Market Policies: An Initial Assessment
-Key findings
-Introduction
-1. The labour market implications of a transition to green growth: Insights from general-equilibrium modelling
-2. Direct impacts on employment and skill requirements in key winning and losing sectors: Lessons from partial-equilibrium analysis
-3. An active role for labour market and skill policies: Establishing good general framework conditions
-4. An active role for labour market and skill policies: What role or green-specific measures?
-Conclusions
-References
-Annex 4.A1. List of Industries Used in the Analysis of Worker Mobility in Section 2
Statistical Annex

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