GDP growth slowed down over the course in the past year
Total employment has recovered in most countries after COVID‑19
Employment has grown more for women than for men since the onset of the pandemic
Unemployment rates remain low across the OECD countries
Inactivity rates are below pre‑crisis levels in most OECD countries
Average hours worked are close to pre‑pandemic levels in most OECD countries
Labour markets remain tight in many countries even as pressure is easing
Tightness increased across industries, but is often decreasing in high-pay industries
In some OECD countries, employers are offering more benefits in job postings amid tight labour markets
Temporary employment has declined among new hires
Involuntary part-time has declined among new hires
Employment in the OECD is projected to continue to grow in 2023 and 2024, with the unemployment rate also inching up slightly
Inflation is slowly declining after reaching decades-high levels in many countries
Core inflation has grown in many countries recently, as inflation has become more broad-based
Real wages are below pre‑pandemic levels, despite the recent nominal wage growth
The gap between nominal wage growth and inflation is narrowing in some countries
Nominal growth in posted wages has mostly been stable in 2023
Changes in real wages by industry and country
Changes in real wages by education and occupation vary across countries
Both men and women have been affected by the cost-of-living crisis
Profits have increased more than labour costs in many OECD countries
Profits contributed more to domestic price pressures
Profits outpace labour costs in many industries in Australia and Europe
Price and income support policies remain sizeable but largely untargeted
Minimum wages are keeping pace with inflation, but real gains may vanish over time if inflation remains high
Impact of a 1% increase in the minimum wage on aggregate wages
Negotiated wages in OECD countries have declined in real terms
Recent trends in industrial disputes
Employment rates have improved in most countries
Changes in inactivity rates by age
Nominal wage growth has picked up but does not seem to be accelerating significantly
Mentions of employment benefits increased
Employee benefits and demand per economic sector in online job postings
Minimum wage evolution, January 2021 to May 2023
Negotiated wages in selected OECD countries, in real terms