Highlights of the third quarter of 2012. Net sales amounted to SEK 27,171m (25,650) and income for the period was SEK 985m (825), or SEK 3.43 (2.90) per share. Net sales improved by 5.9%, of which 4.6% was organic growth, 5.1% acquisitions and –3.8% changes in exchange rates.
The paper analyses the patterns of economic growth that characterized the huge decline of the Brazilian trend GDP growth rate in the period between 1970 and 2006. The analysis is based on an analytical framework that combines the classical supermultiplier demand led growth model with the hypothesis that the balance of payments is the main potential (and often the effective) constraint to the expansion of the Brazilian economy in the period under consideration. From this perspective, the proximate causes of the decline of the GDP growth trend are the following. First, we have the relatively low growth rate of the domestic components of final demand which combined, with its high weight in total final demand explains the low contribution of this type of expenditure to the GDP growth rate since the 1980s. Secondly, the external sector contribution to GDP growth was both very unstable and, whenever its contribution was relatively high, it could not sustain the relatively high GDP growth rates of 1970s. These patterns of demand led growth are quantitatively investigated with the application of a demand led growth accounting methodology which allows us to analyze the expansion patterns of a set of periods between 1970 and 2006. In what concerns the more fundamental causes, the paper points out to the relevance of: (a) the changing patterns of commercial and financial external insertion of the Brazilian economy; (b) the worsening of the income distribution conditions associated with the trend decline in the wage share, the high percentage of the population still below the poverty line and the high inequality in personal income distribution; and (c) the macroeconomic policy regimes, in particular from 1999 on with the adoption of the policy mix combining inflation targeting, large primary government budget surplus and floating (but very much managed) exchange rates.
Temple Leadership Seminar Outlook Talk 2 19 2009mgala
Thank you to all who attended the 4th Annual Twilight Networking and Speaker Event co-hosted by Temple University's Fox School of Business and the Federal Reserve Bank of Philadelphia on February 19th. The speaker, Loretta Mester, Senior Vice President and Director of Research for the Federal Reserve Bank, provided us with the latest information on the current state of the economy and gave us her economic outlook for 2009. Ms. Mester was kind enough to share with us her presentation which I have attached for your review.
The event was a great success and it was wonderful to see our current students, our alumni and our corporate partners networking together. Stay tuned for information on next year's date.
The briefing released on 24 August 2012, reveals among other things that drought in large parts of the United States is pushing up world food prices, that emerging markets ease monetary policy to stimulate growth and that the debt crisis in the eurozone remains a major source of uncertainty.
The Fed left its policy rate unchanged at 0.25-0.50%, as expected, and the 10 voting Federal Open Market Committee (FOMC) members and 7 non-voting members halved their median expectations of rate hikes in 2016 from four to two in their updated projections (see Figure 1). The Fed’s statement, projections and press conference had an undeniably cautious tone, with clear focus on global risks. The rally in US equities (to a new 2016-high) and 2-year rates (to a March low) and further depreciation in the dollar post meeting clearly indicate markets’ dovish interpretation (see Figure 2).
Highlights of the third quarter of 2012. Net sales amounted to SEK 27,171m (25,650) and income for the period was SEK 985m (825), or SEK 3.43 (2.90) per share. Net sales improved by 5.9%, of which 4.6% was organic growth, 5.1% acquisitions and –3.8% changes in exchange rates.
The paper analyses the patterns of economic growth that characterized the huge decline of the Brazilian trend GDP growth rate in the period between 1970 and 2006. The analysis is based on an analytical framework that combines the classical supermultiplier demand led growth model with the hypothesis that the balance of payments is the main potential (and often the effective) constraint to the expansion of the Brazilian economy in the period under consideration. From this perspective, the proximate causes of the decline of the GDP growth trend are the following. First, we have the relatively low growth rate of the domestic components of final demand which combined, with its high weight in total final demand explains the low contribution of this type of expenditure to the GDP growth rate since the 1980s. Secondly, the external sector contribution to GDP growth was both very unstable and, whenever its contribution was relatively high, it could not sustain the relatively high GDP growth rates of 1970s. These patterns of demand led growth are quantitatively investigated with the application of a demand led growth accounting methodology which allows us to analyze the expansion patterns of a set of periods between 1970 and 2006. In what concerns the more fundamental causes, the paper points out to the relevance of: (a) the changing patterns of commercial and financial external insertion of the Brazilian economy; (b) the worsening of the income distribution conditions associated with the trend decline in the wage share, the high percentage of the population still below the poverty line and the high inequality in personal income distribution; and (c) the macroeconomic policy regimes, in particular from 1999 on with the adoption of the policy mix combining inflation targeting, large primary government budget surplus and floating (but very much managed) exchange rates.
Temple Leadership Seminar Outlook Talk 2 19 2009mgala
Thank you to all who attended the 4th Annual Twilight Networking and Speaker Event co-hosted by Temple University's Fox School of Business and the Federal Reserve Bank of Philadelphia on February 19th. The speaker, Loretta Mester, Senior Vice President and Director of Research for the Federal Reserve Bank, provided us with the latest information on the current state of the economy and gave us her economic outlook for 2009. Ms. Mester was kind enough to share with us her presentation which I have attached for your review.
The event was a great success and it was wonderful to see our current students, our alumni and our corporate partners networking together. Stay tuned for information on next year's date.
The briefing released on 24 August 2012, reveals among other things that drought in large parts of the United States is pushing up world food prices, that emerging markets ease monetary policy to stimulate growth and that the debt crisis in the eurozone remains a major source of uncertainty.
The Fed left its policy rate unchanged at 0.25-0.50%, as expected, and the 10 voting Federal Open Market Committee (FOMC) members and 7 non-voting members halved their median expectations of rate hikes in 2016 from four to two in their updated projections (see Figure 1). The Fed’s statement, projections and press conference had an undeniably cautious tone, with clear focus on global risks. The rally in US equities (to a new 2016-high) and 2-year rates (to a March low) and further depreciation in the dollar post meeting clearly indicate markets’ dovish interpretation (see Figure 2).
This 2016 edition of the OECD Employment Outlook provides an in-depth review of recent labour market trends and short-term prospects in OECD countries.
OECD’s recent analysis of the employment and social situation in OECD and key emerging economies, policy recommendations to spur growth, boost confidence and soften the impact of the jobs crisis. By Paul Swaim, Senior Economist, Directorate for Employment, Labour and Social Affairs.
Análisis de la progresiva recuperación de los mercados internacionales de la perspectiva del empleo, la económica y el nivel de productividad de las empresas.
The 2014/15 edition examines the link between wages and inequality at the household level. It shows that wages constitute the largest single source of income for households with at least one member of working age in most countries and points to changes in wages and paid employment as key factors underlying recent trends in inequality. The report also considers wage gaps between certain groups, such as those between women and men, migrants and nationals, and workers in the informal and formal economy.
Inequality can be addressed through policies that affect wage distribution directly or indirectly, as well as through fiscal redistribution. However, increasing inequality in the labour market places a heavier burden on efforts to reduce inequality through taxes and transfers. The report thus emphasizes the need for combined policy action that includes minimum wages, strengthened collective bargaining, interventions to eliminate wage gaps, the promotion of paid employment and redistribution through taxes and transfers.
Global Wage Report 2014/15 - Wages and Income InequalityDr Lendy Spires
The 2014/15 edition examines the link between wages and inequality at the household level. It shows that wages constitute the largest single source of income for households with at least one member of working age in most countries and points to changes in wages and paid employment as key factors underlying recent trends in inequality. The report also considers wage gaps between certain groups, such as those between women and men, migrants and nationals, and workers in the informal and formal economy.
Inequality can be addressed through policies that affect wage distribution directly or indirectly, as well as through fiscal redistribution. However, increasing inequality in the labour market places a heavier burden on efforts to reduce inequality through taxes and transfers. The report thus emphasizes the need for combined policy action that includes minimum wages, strengthened collective bargaining, interventions to eliminate wage gaps, the promotion of paid employment and redistribution through taxes and transfers.
Fluctuations of employment across age and gender - Enrico Zaninotto, Roberto ...OECD CFE
Presentation of Enrico Zaninotto, Full Professor, Department of Economics and Management, University of Trento, Italy at the fourth meeting of the Spatial productivity Lab of the OECD Trento Centre held on 17 April 2019.
More info http://oe.cd/SPL
Global unemployment will reach 202 million people in 2013, including almost 74 million youth. Rising skills mismatch and persistently high uncertainty in hiring prevents a faster return of employment. Slowing structural change and weak labour productivity growth hampers faster reduction of working poverty in developing countries. The only green spot: Rising middle class employment in emerging countries can help rebalance global growth over the medium run.
The 2014 edition of the OECD Employment Outlook reviews recent labour market trends and short-term prospects in OECD and key emerging economies. It zooms in on how the crisis has affected earnings, provides country comparisons of job quality, examines the causes and consequences of non-regular employment, and estimates the impact of qualifications and skills on labour market outcomes.
Longer-term forecastings - David Turner, Economics Department, OECDOECD Governance
This presentation was made by David Turner, Economics Department, OECD, at the 11th Meeting of OECD PBO & IFIs held in Lisbon, Portugal, on 4-5 February 2019
Productivity and Credit Constraint, Gilbert Cette June 18, 2018Soledad Zignago
Gilbert Cette's slides on "Productivity and Credit Constraint", Productivity dynamics after the criisis, Banque de France & Collège de France conference, Paris June 18, 2018
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
1. Università Europea di Roma
Gruppo Valorizzazione delle Statistiche
Pubbliche
Società Italiana di Statistica
Roma, 19 Aprile 2012
The jobs crisis : trends and policy
challenges
Stefano Scarpetta
Deputy Director
Directorate for Employment, Labour and Social Affairs
Employment
OECD
2. The jobs crisis
• Rapid rise in unemployment in many OECD countries
– Wide cross-country differences in labour market adjustment during the recession and
early phase of the recovery
– Adjustment on the extensive margin (employment) but also on the intensive
(hours) in a number of countries
• Limited impact of the (weak) recovery on job creation
– The OECD unemployment rate is still close to the historical peak (8.2% in February
2012)
• Serious risk of unemployment becoming entrenched
– The share of l
h h f long-term ( ) unemployment i i
(LT) l is increasing rapidly, and some of the LT
i idl d f h
unemployed are at risk of dropping out of the labour market
• With a faltering recovery, policy choices become very difficult
– How to tackle budget deficits while, at the same time, sustain the recovery and provide
adequate support to the many unemployed?
3. A weak and uneven economic recovery
Index base 100 = real GDP at the business-cycle trough of the output gap, quarterly data
OECD area Euro area*
E *
Italy United States
* Aggregated real GDP of the 15 OECD countries of the Euro area (excluding Cyprus and Malta).
Source: OECD calculations based on OECD Economic Outlook No. 90.
4. Different patterns of LM adjustment in the downturn and early phase of the
recovery
Percentage change between the real GDP peak and between trough and the real GDP trough to the latest available quarter
2008‐09 recession Early recovery
% Real GDP Total hours worked
Real GDP Total hours worked
% 7
0
6
‐2
‐4 5
‐6 4
‐8 3
‐10 2
‐12 1
‐14 0
‐16 ‐1
‐18 ‐2
Countries ordered from left to right in terms of drops in GDP during the “Great recession”
5. Different patterns of LM adjustment in the downturn and early phase of the
recovery
Percentage change between the real GDP peak and between trough and the real GDP trough to the latest available quarter
2008‐09 recession Early recovery
Total employment Average hours worked % Total employment Average hours worked
%
4 4
2 3
0 2
‐2
1
‐4
0
‐6
6
‐1
‐8
‐2
‐10
‐3
‐12
‐14 ‐4
Countries ordered from left to right in terms of drops in GDP during the “Great recession”
6. The labour market impact of the crisis and early recovery
periods have been uneven across countries
Unemployment rates before the crisis, at its peak and its latest valuea
f
Note: Countries are shown in ascending order of the jobs gap in 2011 Q4.
a) Counterfactual employment level is obtained by assuming that it has grown as rapidly as the working-age population between the business-cycle peak and
the date considered. Peak (trough) dates are defined as the start of the longest spell of consecutive decreases (increases) in real GDP since 2006 Q1.
b) Weighted averages.
c) The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without
prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. d) Adjusted series
taking into accounts the break in series due to the introduction of the 2010 Census for Mexico and the change in the LFS questionnaire for Portugal in 2011,
respectively.
Source: OECD calculations based on the OECD Economic Outlook No. 90. .
7. The increase in unemployment was accompanied by growth
of other forms of unemployment and underemployment
Alternative measures of labour market slack, 200 Q3 and 2011 Q3 f selected countriesa
f 2007 for
UR1: Unemployment for one or more years, as a percentage of the labour force.
UR3: ILO unemployment rate. UR5: Unemployed plus persons marginally attached to the labour force, as percentage of the labour force plus persons marginally attached to the labour force.
UR6: Unemployed plus marginally attached to the labour force plus underemployed workers, as a percentage of the labour force plus persons marginally attached to the labour force.
Persons marginally attached to the labour force: persons not in the labour force who did not look for work during the past four weeks, but who wish and are available to work.
Discouraged workers are the subset of marginally attached workers who are not currently searching for a job because they believe none are available.
Underemployed persons are defined as full-time workers working less than a full-week (during the survey reference week) for economic reasons plus part-time workers who wanted but could not
full time full week part time
find full-time work. In the United States, it refers to full-time workers working part-time between 1-34 hours during the survey reference week for economic reasons and part-time workers who could
not find full-time work.
a) The labour market slack measures displayed in this figure have not been adjusted for seasonal variation. As a result, the values for UR3 differ slightly from the seasonally adjusted
unemployment rates shown in the other figures.
b) OECD is a weighted average for 29 OECD countries. Due to data availability, the OECD average excludes the following countries: Chile, Israel, Korea, Mexico and Switzerland.
Source:
So rce OECD estimates based on the European Union Labour Force Survey (EULFS) for E ropean co ntries and national Labour Force Surveys for non E ropean countries.
E ropean Labo r S r e European countries Labo r S r e s non-European co ntries
8. Long-term unemployed has increased in many OECD
countries
Long-term unemployed (
(more than one year) as a percentage of total unemployeda
) f
Note: Countries are shown in ascending order of the incidence of long-term unemployment in 2011 Q4.
a) Data are not seasonally adjusted. OECD is the weighted average of 32 OECD countries excluding Chile and Korea.
Source: OECD calculations based on quarterly national Labour Force Surveys.
9. Falling employment has particularly affected youth, low-
skilled and men
Percentage change in employment, 200 Q 2011 Q
2007 Q4-2011 Q4
OECD averagea Italy
a) Weighted averages of 33 countries (excluding Chile) for statistics by gender/age groups and employees and self-employed; of 31 countries for statistics by education (excluding Australia,
Chile and New Zealand); and 29 countries (excluding Australia, Israel, Mexico and the United States) for statistics on permanent/temporary workers. Statistics by education refers to persons aged
25-54 and to persons aged 15 or more/15-74 (for the European countries) for the statistics by work status.
Source: OECD calculations based on national labour force surveys.
10. Different margins of adjustment for the socio-economic
groups
Percentage changea,b
Average hours worked Employment
A. Crisis
10
5
0
-5
-10
-15
15
Youth Prime-age Old age Low- Medium- High- Permanent Temporary
(15-24) (25-54) (55-64) skilled skilled skilled workers workers
Age groups Education Type of contract
B. Recovery
10
5
0
-5
-10
-15
15
Youth Prime-age Old age Low- Medium- High- Permanent Temporary
(15-24) (25-54) (55-64) skilled skilled skilled workers workers
Age groups Education Type of contract
11. Youth unemployment rates: Impact of the crisis and early
recovery periods
Youth unemployment rates before the crisis, at its peak and its latest valuea
f
*: Smoothed series using centered five-months moving average. Note: Countries are shown in ascending order by the youth unemployment rate at its peak.
a) Trough (peak) dates are defined as the start of the longest spell of consecutive increase (decrease) of the quarterly unemployment rates since January
2006.
Source: OECD calculations based on the Short-term Indicators from Eurostat and various national sources.
12. NEET rates among youth in OECD countries
2007 Q1 2011
200 Q1-2011 Q1a
a) 2007 Q4-2010 Q4 for Canada and Mexico. 2007 Q2-2011 Q2 for Australia. OECD and EU-21 are weighted averages of countries shown.
Source: OECD estimates based on national labour force surveys.
13. NEET status can be very persistent
NEET years (left hand scale) Exit rate (right hand scale)
4,5 80
4,0 70
3,5 60
3,0
50
2,5
25
40
2,0
30
1,5
1,0
10 20
0,5 10
0,0 0
Source : OCDE (2009) Q i ti i and M f di
S Quintini d Manfredi
14. An increased risk that the cyclical rise in unemployment
becomes structural
Beveridge curves provide mixed picture across countries
2001 Q1-2011 Q4
Germany United States
1,2 3,8
Vacanc rate (% of labour force)
Vacanc rate (% of labour force)
2011 Q4 2001 Q1
f
f
1,1 2001 Q1
3,4
1
cy
cy
3
0,9
0,8 2,6
0,7
2,2
2011 Q4
0,6
1,8
0,5
0,4 1,4
,
5 6 7 8 9 10 11 12 3,5 4,5 5,5 6,5 7,5 8,5 9,5 10,5
Harmonised unemployment rate (% of labour force) Harmonised unemployment rate (% of labour force)
Source: OECD estimates based on OECD Main Economic Indicators Database and US Bureau of Labor Statistics’ Job Openings and Labor
Turnover Survey (JOLTS).
15. Matching frictions may have increased in some countries
Comparing actual and predicted job-finding, 2001 Q1-2011 Q4
Germany
y Spain
United States
⎛v ⎞
yf t = α 0 + α1 ln⎜ t
⎜u ⎟ + εt
⎟
⎝ t ⎠
Source: OECD estimates.
16. Hiring rates by worker groups, 2007 Q2-2011 Q2
Base 100 in 2007 Q2, dependent employment
2009 Q2 2011 Q2
European Union (EU-27)a Italy
A. Workers typesc B. Firm typesd A. Workers typesc B. Firm typesd
160 120 160 120
110 110
140 140
100 100
120 120
90 90
100 80 100 80
70 70
80 80
60 60
60 60
50 50
40 40 40 40
Men
Men
Medium-skilled
Medium-skilled
High-skilled
High-skilled
w-skilled
w-skilled
Total
Youth
Total
Youth
Prime-ag men
Prime-ag men
Women
Women
Prime-age women
Prime-age women
Older workers
Older workers
Distributive services
Distributive services
uction
uction
Good-producing sector
Good-producing sector
rvices
rvices
rvices
rvices
ge
ge
W
W
w
w
Constru
Constru
w
w
s
s
Producer ser
Producer ser
Social and personal ser
Social and personal ser
Low
Low
Gender Age groups Education Gender Age groups Education
a) European Union is a weighted average.
b) Statistics by gender, age groups, educational attainment and industry refer to persons aged 15-64 and to persons aged 25-64 for statistics by education.
c) Industries based on NACE Rev. 1.1. before 2009 and to NACE Rev. 2. afterwards. "Good-producing sector" corresponds to Mining, manufacturing and electricity, gas and water supply,
"Distributive services" to Wholesale and retail trades, hotels and restaurants, transports, storage and communication, "Producer services" to Financial intermediation and real estate and business
services, and "Social and personal services" to all the remaining service industries.
Source: OECD calculations b d on th European Union Labour Force Survey (EULFS)
S l l ti based the E U i L b F S (EULFS).
17. Key policy challenges
Short-term labour market challenges vary a lot across
countries:
• Promote job creation when pressure to cut large budget deficits is high and
growing
i
• Provide an adequate safety net to the unemployed, including the many LTU
• Adapt active labour market programmes
• Tackle dualism in the labour market
17
18. Spending on labour market programmes varies a lot across
countries
Harmonised unemployment rates and labour market programme spending as a percentage of GDP, 2007-2009
Total spending 2007 Total spending 2009
Countries are shown
Active spending 2007 Active spending 2009
in ascending order of
Unemployment rate (right‐side scale) 2007 Unemployment rate (right‐side scale) 2009 %
% the unemployment
5 20 rate in 2009.
4.5 18 Source: OECD
calculations based on
4 16
the OECD Main
3.5 14 Economic Indicators
3 12 and OECD Labour
Market Programmes
2.5 10
Databases.
2 8
1.5
15 6
1 4
0.5 2
0 0
18
19. Greater resources for labour market policy, 2009 to 2011
Percentage of responses
Reduction No change Increase
Anticipated change in 2010 relative to 2009 Anticipated change in 2011 relative to 2010
Job subsidies
Public Sector
job creation
Short‐time work
Job search
assistance
Training
programmes
Work experience
Job finding and business
Job‐finding and business
start‐up incentives
Training programmes
for existing workers
Support for
apprentices
Unemployment
benefits
Social assistance
benefits
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%