OECD Employment Outlook 2012

The OECD Employment Outlook 2012 provides an assessment of key labour market developments and prospects. The analysis contains several chapters focusing on specific aspects of labour market functions and the implications for policy in order to promote more and better jobs. A demanding time for labour market authorities, 2012 is faced with an uneven recovery. Growing risks of increased structural unemployment in some countries and tighter constraints on public expenditures remain prominent challenges.

Key findings and insights outlined in the report include:

Waiting for the Recovery: OECD Labour Markets in the Wake of the Crisis
The economic recovery - the weakest of the past four decades - has been uneven across OECD countries, with some falling back into recession. This section examines the implications of the slow recovery for OECD markets.

What makes Labour Markets Resilient during Recessions?
This section analyzes the role of structural policies for labour market resilience, in which labour markets weather economic downturns with social costs. Insight provided in this chapter asserts that structural policies and institutions impact labour market resilience.

Labour Losing to Capital: What explains the Declining Labour Share?
In recent decades, the labour share (ratio of labour compensation to domestic output) has been declining. During the economic recession, this decline typically pauses, but then subsequently resumes with a recovery. However, the recent economic crisis and slow recovery have not deviated from this pattern, suggesting that workers are receiving an increasingly smaller share of national income.

What Green Growth Means for Workers and Labour Market Policies
This chapter aims to provide guidance on how labour markets and skill development policies can best contribute to a fast, efficient and fair transition to a low-carbon and resource-efficient economy, especially in developed countries.

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