Employment in OECD countries since the onset of COVID
Some interesting facts from the OECD Employment Outlook 2020 report:
- Worth remembering that in early 2020 the employment rate in the OECD had reached a record-high of 68.9%, 2.6 percentage points above the previous record just before the global financial and economic crisis of 2008;
- Since the onset of COVID, 39% of workers shifted to telework, pushing the boundaries of the potential for this alternative way of work organisation;
- By May 2020, companies had claimed job-retention subsidies for more than 30% of their employees in countries such as Germany or the United Kingdom and up to 50% in countries such as France and New Zealand;
- The OECD-wide unemployment rate rose from 5.3% in January to 8.4% in May;
- In the most optimistic scenario, i.e. one without a second wave of infections, the OECD-wide unemployment rate is forecast to be 9.4% in the fourth quarter of 2020, exceeding all the peaks since the Great Depression, while average employment is projected to fall by 4.1% to 5% with respect to 2019, depending on whether a second outbreak materialises.
COVID-19: From a health to a jobs crisis
By: OECD
Trust in institutions
A new Pew Research Center survey of 14 advanced economies finds that public attitudes toward their own country’s dealing with the coronavirus epidemic and national unity are linked to feelings of trust in others and economic confidence in their nation.
Most Approve of National Response to COVID-19 in 14 Advanced Economies
By: Pew Research Center
