OECD Statistics

OECD employment rate remains at record high in the fourth quarter of 2023 OECD #employment and labour force participation rates remained broadly stable at 70.1% and 73.8% in the fourth quarter of 2023, the highest levels recorded since the start of the series in 2005 and 2008, respectively. Both indicators were at or near their record highs in 10 of the 38 OECD countries, including Italy and Japan. In the fourth quarter of 2023, the employment rate exceeded 70% in almost two-thirds of OECD countries, including Canada, Germany, Japan, the United-Kingdom and the United States (Figure 1). The employment rate increased in 11 OECD countries and fell in 10 countries, with the largest declines observed in Colombia, Israel, and Luxembourg. Türkiye remained the OECD country with the lowest employment rate, at 54.2%, which was nevertheless its record high. Find out more in the latest news release 👉 https://lnkd.in/e5Zi32-4 #OECDStats

[NEW] Oil prices continued to increase in March 2024, reaching 81.3 USD per barrel. Check out the newly updated dashboard 👉 https://lnkd.in/eDRHiFWR #OECDStats

OECD headline inflation stable at 5.7% in February 2024, food inflation continues to slow Year-on-year #inflation in the OECD as measured by the Consumer Price Index (CPI) was stable in February 2024 at 5.7%, having hovered around 6.0% since May 2023. Headline inflation fell in three-quarters of OECD countries, with the largest monthly declines recorded in Poland and Sweden and the largest rise in Türkiye. Headline inflation was below 2.0% in seven OECD countries and remained negative in Costa Rica. #Foodinflation continued to decline for the 15th consecutive month, reaching 5.3% in February after 6.3% in January, and increasing in only four OECD countries. OECD food inflation was lower than headline inflation for the first time since November 2021. OECD #energyinflation increased but remained moderately negative at minus 0.5% in February, despite strong energy inflation in Türkiye and Colombia. OECD core inflation (inflation less food and energy) continued to decline but remained high at 6.4%, reflecting sticky services prices. More #OECDStats in the latest news release 👉 https://lnkd.in/e45FBQrU

[NEW] March updates to the #OECD #ConsumerBarometer point to an improvement in many countries toward the long-term average. Explore the updated #OECDStats 👉 https://lnkd.in/e29ECBjZ

🆕 Tips for reading government debt-to-GDP ratios The government debt-to-GDP ratio is one of the headline indicators used to assess the health of government finances. It compares the stock of government debt (financial liabilities) outstanding at the end of the year or quarter with Gross Domestic Product (GDP) in that same year or quarter. This indicator was in the spotlight during the great financial crisis of 2008-09 and the Covid-19 pandemic when there were growing concerns about increases in government borrowing. But there can be some confusion surrounding the interpretation of the government debt-to-GDP ratio. The figures reported for a particular country may differ between two different websites or even on the same website. For instance, on the OECD Data Explorer, the United Kingdom’s general government debt-to-GDP ratio for the third quarter of 2023 ranged from 94% of GDP to 155% of GDP, depending on the measure of debt used. This article explores how and why different debt-to-GDP ratios for the same country and period may be correct. While there is only one figure used for GDP, there are usually several official measures of debt in OECD countries. The differences reflect users’ demand for different indicators. There may also be differences in the ‘valuation’ and ‘consolidation’ bases of the debt measures. Individuals and institutions using or quoting debt-to-GDP ratios should be aware of the differences behind the indicators. Check out the article on the OECD Stats Blog 🔗 https://brnw.ch/21wIj90

[NEW] Year-on-year core inflation is declining in the G7, but remains high in the first months of 2024. Make your own story using the newly updated #OECD Short-term Indicators Dashboard 👉 https://brnw.ch/21wIgAA

[NEW] Monitoring global trade using data on vessel traffic Rising uncertainties and geo-political tensions, together with more complex trade relations have increased the demand for data and tools to monitor global trade in a timely manner. At the same time, advances in Big Data Analytics and access to a huge quantity of alternative data – outside the realm of official statistics – have opened new avenues to monitor trade. These data can help identify bottlenecks and disruptions in real time but need to be cleaned and validated. 🛳️ One such alternative data source is the Automatic Identification System (AIS), developed by the International Maritime Organisation, facilitating the tracking of vessels across the globe. The system includes messages transmitted by ships to land or satellite receivers, available in quasi real time. While it was primarily designed to ensure vessel safety, this data is particularly well suited for providing insights on trade developments, as over 80% in volume of international merchandise trade is carried by sea. Furthermore, AIS data holds granular vessel information and detailed location data, which combined with other data sources can enable the identification of activity at a port (or even berth) level, by vessel type or by the jurisdiction of vessel ownership. The latest OECD Statistics blog by @Graham Pilgrim, @Emmanuelle Guidetti and @Annabelle Mourougane features new work from the OECD Statistics and Data Directorate contributing to existing research in this field 👉 https://brnw.ch/21wIetq

Despite the shared recognition of equal opportunity and inequality as critical issues across OECD countries, there remains a divergence of views on the most effective strategies for addressing them. Out of the top five measures to address inequality, four focus on low-income households. Over 50% of respondents include higher minimum wages in their preferred policy mix to address economic inequality. The OECD WISE Centre, in collaboration with Amundi, explores public preferences for policies and actions to reduce inequality and enhance opportunities for all. Learn more now: https://oe.cd/PoEO

[NEW] Insights on engagement in global value chains in 2023 Key findings The share of domestic value added in exports is estimated to have increased marginally in 2023 in most OECD and in key emerging-market economies (China, India, Brazil, Indonesia and South Africa). Most countries experienced a rise in the share of domestic value added in exports in manufacturing, while the picture was mixed in services. Domestic services shares of exports are estimated to have increased slightly in 2023 in most countries covered, especially in manufacturing. The foreign services share is estimated to have been broadly stable on average across countries. Main trends in 2023 Getting timely information on global value chains is of key interest to policymaking, given the renewed interest in their resilience since the COVID-19 crisis (Schwellnus, Haramboure and Samek, 2023; Jaax, Miroudot and van Lieshout, 2023). This article updates nowcasts of selected TiVA indicators for 2021-23 for 41 countries (36 OECD countries and Brazil, China, India, Indonesia, South Africa) and 24 industries, building on the OECD TiVA database, most recent data on balance of payments, national accounts and short-term indicators of the business cycles. It relies on the methodology set up in Mourougane et al. (2023). The focus of this article is on the most recent year, 2023. The latest #OECD #Statistics blog by Tom Arend, Annabelle Mourougane and Julia Schmidt updates nowcasts of selected TiVA indicators for 2021-23 👉 https://brnw.ch/21wI0ij

[NEW] OECD unemployment rate unchanged at 4.8% in January 2024 The OECD unemployment rate was broadly stable at 4.8% in January 2024, having remained below 5.0% since July 2022. The rate was unchanged in 23 OECD countries in January, rose in 6 countries, and declined in only 3 countries. The number of unemployed persons in the OECD decreased to 33.5 million in January, mainly driven by a decrease in the number of unemployed younger workers (aged 15-24). More #OECDStats in the latest news release 👉https://whttps://brnw.ch/21wHXTL