Report
How to measure labour market “quality”?
We measure the “quality” of the labour market in the seven largest OECD countries: By the level and trend in the employment rate and in the participation rate; By the ability to return to the pre-crisis level of employment after the COVID crisis. H igh or rising employment and participation rate s show a high or rising degree of worker employability, a high capacity to match labour supply and demand, employment-friendly taxation, etc. A high capacity to return to the pre-crisis level of employment shows an ability to maintain workers’ human capital, acceptable labour costs and regulations for companies, a high level of labour mobility, etc. These criteria suggest that labour market quality is: High in Japan, Germany and France; Intermediate in the United Kingdom and Spain; Low in Italy and the United States. This certainly differs from expectations with regard to France and the United States.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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