Page 5 - ePaper
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Contents
Executive summary .............................................................................9
Job creation, productivity and more equality for sustained growth .....................13
1. Growth, jobs and household incomes: recent developments ...........................13
2. Obstacles to job creation .................................................................15
2.1. Weak demand hampers job creation ............................................................15
2.2. Crisis legacy reinforces some obstacles to job creation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
2.3. Recurrent obstacles .........................................................................19
3. Who will benefit from job creation? .....................................................22
3.1. Youth: more education and better skills can lessen the impact of lack of experience ........................22
3.2. Long-term unemployment has doubled, different policies can help prevent and tackle it .....................23
3.3. The structural issue of raising the labour market participation of specific groups ...........................26
4. Job creation with productivity growth ...................................................29
4.1. What sort of jobs will be created? ..............................................................29
4.2. Job and wage polarisation: a pre-crisis trend that has continued .......................................30
4.3. A major role for lifelong learning ...............................................................30
5. Who will benefit from income growth? ..................................................32
5.1. Household incomes declined in the crisis but have started to recover ....................................32
5.2. Rising poverty mainly affects the working-age population and children ..................................32
5.3. Mitigating rising inequalities requires training and quality jobs for all and improving the effectiveness
of social policies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
6. Social and labour market imbalances impact GDP growth .............................36
6.1. How unemployment, poverty and inequality might affect GDP growth, also across national borders. . . . . . . . . . . . . 36
6.2. The impact of inequality on GDP growth: theory and recent evidence ....................................36
6.3. Lessons from the different interactions between GDP growth and labour market and social developments .......37
References .....................................................................................38
3
Executive summary .............................................................................9
Job creation, productivity and more equality for sustained growth .....................13
1. Growth, jobs and household incomes: recent developments ...........................13
2. Obstacles to job creation .................................................................15
2.1. Weak demand hampers job creation ............................................................15
2.2. Crisis legacy reinforces some obstacles to job creation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
2.3. Recurrent obstacles .........................................................................19
3. Who will benefit from job creation? .....................................................22
3.1. Youth: more education and better skills can lessen the impact of lack of experience ........................22
3.2. Long-term unemployment has doubled, different policies can help prevent and tackle it .....................23
3.3. The structural issue of raising the labour market participation of specific groups ...........................26
4. Job creation with productivity growth ...................................................29
4.1. What sort of jobs will be created? ..............................................................29
4.2. Job and wage polarisation: a pre-crisis trend that has continued .......................................30
4.3. A major role for lifelong learning ...............................................................30
5. Who will benefit from income growth? ..................................................32
5.1. Household incomes declined in the crisis but have started to recover ....................................32
5.2. Rising poverty mainly affects the working-age population and children ..................................32
5.3. Mitigating rising inequalities requires training and quality jobs for all and improving the effectiveness
of social policies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
6. Social and labour market imbalances impact GDP growth .............................36
6.1. How unemployment, poverty and inequality might affect GDP growth, also across national borders. . . . . . . . . . . . . 36
6.2. The impact of inequality on GDP growth: theory and recent evidence ....................................36
6.3. Lessons from the different interactions between GDP growth and labour market and social developments .......37
References .....................................................................................38
3
