Face2face jobs series#

Governments should consider ways to adjust statutory minimum wages to maintain effective purchasing power for low paid workers.

In these circumstances, supporting real wages for low-paid workers is essential, according to the report. The cost of living crisis is affecting lower-income households disproportionally, the report noted. The real value of wages is expected to decline over the course of 2022, as inflation is projected to remain high and generally well above the level expected at the time of relevant collective agreements for 2022. Nominal wages are not keeping pace with the rapid rise in inflation. In the European Union, almost three in ten manufacturing and service firms reported production constraints in the second quarter of 2022 due to a lack of labour. Moreover, employment is growing more strongly in high-pay service industries, while it remains below pre-pandemic levels in many low pay, contact-intensive industries. In a number of these, labour force participation and employment rates are also still below pre-crisis levels. The unemployment rate in July was higher than before the pandemic in a fifth of the OECD countries. The number of unemployed workers in the OECD continued to fall in July and reached 33 million, 2.4 million less than before the pandemic, an OECD press released said citing the report.

Face2face jobs series#

The OECD unemployment rate stabilised at 4.9 per cent in July 2022, 0.4 points below its pre-pandemic level recorded in February 2020 and at its lowest level since the start of the series in 2001. Since the low point of the pandemic in April 2020, OECD countries have created about 66 million jobs, 9 million more than those destroyed in a few months at the onset of the pandemic. While labour markets remain tight in most OECD countries, lower global growth means employment growth is also likely to slow, while major hikes in energy and commodity prices are generating a cost of living crisis, the report said.

99 face2face Recruitment jobs including salaries, ratings, and reviews, posted by face2face Recruitment employees. Companies across the OECD are confronted with unprecedented labour shortages. Search job openings at face2face Recruitment. Though labour markets in the countries belonging to the Organisation for Economic Cooperation and Development (OECD) strongly bounced back from the COVID-19 pandemic, the global employment outlook is now highly uncertain, according to the OECD Employment Outlook 2022.