In 2014, the US economy added more jobs than in any year since the 1990s. In fact, this longest streak of job growth on record has persisted into 2015. Inflation-adjusted wages are up by 1.4% annually over the last two years, more than twice the pace of the last recovery. But this is still not enough to make up for decades of subpar gains for middle-class families–a challenge shared by many other OECD economies.
In his speech delivered at the Brookings Institute, OECD Secretary-General Gurría explains that OECD’s numbers tell a clear-cut story of how our traditional economic growth agenda has neglected inclusiveness. Yet to begin to tackle this problem, we have to understand that inequality is not just about money. It touches every area of people’s lives.
On the occasion of the OECD High Level Policy Forum on Migration taking place on December 1 and 2 2014, Secretary General Angel Gurria congratulates President Obama on taking action to address the unsustainable situation of undocumented immigrants.
This paper uses data from the American Life Panel to understand the determinants of well-being in the United States during the Great Recession. It investigates how various dimensions of subjective well-being reflected in the OECD Better Life Framework impact subjective well-being.
The enduring idea that the rising tide of economic growth lifts all boats is no longer a universal truth. In the US, even before the Great Recession, the poorest were steadily losing ground. Between 2000 and 2012 the average disposable income of the bottom 10% in the US fell by 14%, underlined the OECD Secretary-General.
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The most effective policy tool kit to address high inequalities and to extend opportunities is one that combines education and job training measures, policies to boost job creation, and reforms to make the tax and benefit system and public services more efficient.
The global economic crisis has had a profound impact on people’s well-being, reaching far beyond the loss of jobs and income, and affecting citizens’ satisfaction with their lives and their trust in governments, according to a new OECD report.
There is no simple remedy for fixing the post-crisis global economy. But three key ingredients for sustainable long-term growth are jobs, equality and trust, said OECD Secretary-General in Washington.
Income inequality and relative poverty in the United States are among the highest in the OECD and have substantially increased over the past decades. These developments have been associated with a number of other worrying statistics, including low intergenerational social mobility and weak real income growth for many households.
Although job creation has improved, since the end of the 2007-08 recession, the effects of the recession on the labour market remain severe.