31 May 2018
The revised OECD Jobs Strategy approved by the 2018 Ministerial Council has the advantage of broadening the OECD approach, provides helpful messages on macro-economic demand side policy, and openly recognizes the value and benefits of labour market institutions such as minimum wages, collective bargaining, job protection and unemployment benefit systems.
At the same time however, the traditional view of the OECD in favour of labour market flexibility is retained, thus also delivering some policy recommendations that run counter to the stated objectives of better job quality and less inequality. This concerns, in particular, the recommendations on minimum wages and collective bargaining. Overall, this makes the new Jobs Strategy ambiguous.
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