Jobs
Background
Work has obvious economic benefits, but having a job also helps individuals stay connected with society, build self-esteem and develop skills and competencies. Societies with high levels of employment are also richer, more politically stable and healthier.
Employment Rate
Across the OECD, nearly 65% of the working-age population aged 15 to 64 has a paid job. Employment levels are highest in Switzerland (79%), Iceland (78%) and Norway (75%) and lowest in Chile (59%), Hungary (55%) and Turkey (46%).
Long-term Unemployment Rate
Unemployed persons are defined as those who are currently not working but are willing to do so and actively searching for work. Long-term unemployment can have a large negative effect on feelings of well-being and self-worth and result in a loss of skills, further reducing employability. Such effects can last a long time, even after a return to work. Across the OECD, the percentage of the labour force that has been unemployed for a year or longer is currently at 2.7%.
Creating more and better jobs is a major challenge for governments. About one in three people of working age does not have a job in the OECD area, including many out-of-school youth and disabled people. Faced with ageing populations and rising social expenditures, facilitating employment for those who can work has become a priority.
Currently, the global economy is emerging from the worst financial and economic crisis of the past half century, and it will likely take time and strong political will to heal the wounds in the labour market. Job growth, in particular, is still lagging. From 2008 to early 2010, employment fell by 2.1% in the OECD area and the unemployment rate increased by over 50%, to 8.7%, corresponding to 17 million additional persons in unemployment.
Top Ranking
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Indicators
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