More and better jobs for an inclusive recovery

The world is still repairing the damage done to employment prospects and social equality by the crisis. Governments are trying to create not just more jobs, but better jobs. A new OECD framework helps them to define what job quality means and to measure whether their policies are succeeding. 

The scars of the crisis are still visible on the job market, despite the recovery now under way. The unemployed have borne considerable personal, economic and social costs, particularly those who have endured long spells of joblessness, and young people who have failed to find their first job. But an increasing number of those who kept their job or managed to return to work quickly have also experienced economic hardship as a result of stagnant or even declining earnings, and greater work pressure and growing insecurity. 

The crisis has also deepened labour market inequalities. Job creation has disproportionately taken the form of fixed-term or temporary jobs in many advanced economies, while in emerging economies new jobs tend to be in the informal, unregulated economy.

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Economic data

GDP growth: +0.6% Q2 2018 year-on-year
Consumer price inflation: 2.9% Aug 2018 annual
Trade: +2.7% exp, +3.0% imp, Q4 2017
Unemployment: 5.3% Aug 2018
Last update: 10 Oct 2018

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