Posted by . Nearly one-third of all jobs held by young people in Italy were destroyed during the recession. Young people were hit hard – harder than their elders – probably because they were more likely to hold temporary jobs (easier to terminate) at the time of the crisis, and/or were new entrants to the labour market at a time when firms were not hiring. More...
Posted by . The United Kingdom has enjoyed record-high employment levels in recent years and one of the lowest unemployment rates among OECD countries. However, labour productivity growth, which is closely linked to the use of skills, remains weak. This has been translated into weak growth in wages. Job prospects of many adults are also hurt by their poor literacy and numeracy skills. More...
Posted by . South Africa has suffered from persistently high unemployment and low labour force participation rates. The resulting under-use of skills is a waste of valuable productive resources and is likely to lead to skills depreciation and obsolescence. Not having the right skills in the first place is also hampering many South Africans from entering the labour market or progressing to more stable, better paid jobs. More...
Posted . Pioneers of the Estonian Fintech need a fair level playing field. Estonia, at the forefront of alternative finance should seize the moment to set framework conditions right. More...
Posted . Weak productivity growth is a major problem afflicting our societies. It curbs growth in incomes and endangers the sustainability of our social security systems. An important, but often ignored, source of the productivity slowdown is the increasing prevalence of weakly productive firms and, among them, “zombie firms” – i.e. firms that would typically exit or be forced to restructure in a competitive market. In this context, a new OECD study shows that this prevalence is closely related to weaknesses in the banking system and insolvency regimes. More...
Posted . Global growth has gained momentum in 2017 and the economic recovery is moving forward, as shown in our latest Economic Outlook. Labour productivity is improving from its decade-long sluggishness. Yet, expected productivity gains still lag far behind pre-crisis norms, and will not be sufficient to set the stage for long-term improvements in living standards. More...
Posted . Global growth has strengthened, but policymakers face the challenge of lifting their economies’ long-term potential to ensure it remains robust and more inclusive. Private sector investment has slowed substantially in the past decade. Even though they have started to recover in most advanced economies, net investment rates remain well below pre-crisis levels and are projected to rise only modestly for the next two years (Figure 1) – see our latest Economic Outlook. More...
Posted . Global economic growth is strengthening, with incoming data surprising on the upside. We project global GDP growth to be between 3 ½ and 3 ¾ per cent through the projection horizon, closer to long-run averages. Will this synchronised momentum finally propel the global economy to gather enough speed to raise productivity, real wages, and living standards for all. More...
Posted . Household and corporate debt in many advanced and emerging market economies is high in the wake of the financial crisis and following a decade of low global interest rates. Should we be worried by these developments. More...
Posted . “Why did no one see it coming?” was the disarmingly blunt question asked by Queen Elizabeth in the aftermath of the global financial crisis. A number of economists (some with greater reliance on hindsight than others) claimed that there had been “worrying developments” in finance and the global economy for a long time prior to the crisis. More...
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