Labour market resilience: The role of structural and macroeconomic policies
This paper provides an overview of labour market resilience in the wake of the Great Recession of 2008-09 and the role played by macroeconomic and structural policies. The OECD unemployment rate has returned to close to its pre-crisis level, but the unemployment cost of the Great Recession has nonet...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2017
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| Schriftenreihe: | OECD Economics Department Working Papers
no.1406 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper provides an overview of labour market resilience in the wake of the Great Recession of 2008-09 and the role played by macroeconomic and structural policies. The OECD unemployment rate has returned to close to its pre-crisis level, but the unemployment cost of the Great Recession has nonetheless been very large and long-lasting in many countries. Moreover, as the recovery in output has been weak relative to the recovery in employment, labour productivity and wage growth remain low. Labour market resilience depends crucially on macroeconomic and labour market policy settings. Macroeconomic policies are highly effective in limiting employment declines during economic downturns and preventing that cyclical increases in unemployment become structural. Spending on active labour market policies needs to respond strongly to cyclical increases in unemployment to promote a quick return to work in the recovery and preserve the mutual-obligations ethos of activation regimes. Overly strict employment protection for regular workers reduces resilience by promoting the use of temporary contracts and slowing job creation in the recovery. Co-ordinated collective bargaining systems can promote resilience by facilitating wage and working-time adjustments. |
| Beschreibung: | 1 Online-Ressource (38 p.) |
| DOI: | 10.1787/d5c950fc-en |
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| spelling | Hijzen, Alexander VerfasserIn aut Labour market resilience The role of structural and macroeconomic policies Alexander, Hijzen ... [et al] = La résilience du marché du travail : Le rôle des politiques structurelles et macroéconomiques / Alexander, Hijzen ... [et al] La résilience du marché du travail Paris OECD Publishing 2017 1 Online-Ressource (38 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1406 This paper provides an overview of labour market resilience in the wake of the Great Recession of 2008-09 and the role played by macroeconomic and structural policies. The OECD unemployment rate has returned to close to its pre-crisis level, but the unemployment cost of the Great Recession has nonetheless been very large and long-lasting in many countries. Moreover, as the recovery in output has been weak relative to the recovery in employment, labour productivity and wage growth remain low. Labour market resilience depends crucially on macroeconomic and labour market policy settings. Macroeconomic policies are highly effective in limiting employment declines during economic downturns and preventing that cyclical increases in unemployment become structural. Spending on active labour market policies needs to respond strongly to cyclical increases in unemployment to promote a quick return to work in the recovery and preserve the mutual-obligations ethos of activation regimes. Overly strict employment protection for regular workers reduces resilience by promoting the use of temporary contracts and slowing job creation in the recovery. Co-ordinated collective bargaining systems can promote resilience by facilitating wage and working-time adjustments. Economics Kappeler, Andreas MitwirkendeR ctb Pak, Mathilde MitwirkendeR ctb Schwellnus, Cyrille MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/d5c950fc-en Volltext |
| spellingShingle | Hijzen, Alexander Labour market resilience The role of structural and macroeconomic policies Economics |
| title | Labour market resilience The role of structural and macroeconomic policies |
| title_alt | La résilience du marché du travail |
| title_auth | Labour market resilience The role of structural and macroeconomic policies |
| title_exact_search | Labour market resilience The role of structural and macroeconomic policies |
| title_full | Labour market resilience The role of structural and macroeconomic policies Alexander, Hijzen ... [et al] = La résilience du marché du travail : Le rôle des politiques structurelles et macroéconomiques / Alexander, Hijzen ... [et al] |
| title_fullStr | Labour market resilience The role of structural and macroeconomic policies Alexander, Hijzen ... [et al] = La résilience du marché du travail : Le rôle des politiques structurelles et macroéconomiques / Alexander, Hijzen ... [et al] |
| title_full_unstemmed | Labour market resilience The role of structural and macroeconomic policies Alexander, Hijzen ... [et al] = La résilience du marché du travail : Le rôle des politiques structurelles et macroéconomiques / Alexander, Hijzen ... [et al] |
| title_short | Labour market resilience |
| title_sort | labour market resilience the role of structural and macroeconomic policies |
| title_sub | The role of structural and macroeconomic policies |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/d5c950fc-en |
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