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The United States economy rebounded strongly from the depths of the pandemic recession, aided by a large and enduring government policy response. However, Russia’s war against Ukraine and strong inflationary pressures have dampened the economic outlook. The administration is reinforcing public welfare through packages that invest in infrastructure and the climate transition, but an ageing population means fiscal pressures are on the horizon.
Mexico is recovering from a pandemic that had deep economic and social impacts. Informal workers, women and youth were particularly hit, exacerbating long-standing social challenges. Mexico’s solid macroeconomic policy framework safeguarded macroeconomic stability. But medium term growth prospects have weakened and growth over the past two decades has been low.
The Survey examines Colombia’s economic recovery from the COVID-19 crisis as well as the challenges to ensuring stronger and more sustainable growth. It takes an in-depth look at the social protection system, and discusses reforms that could improve the sustainability of public finances, boost productivity growth and improve opportunities for all Colombians.
Estonia’s economy continues to perform well, and growing incomes support well-being. However, the expansion has peaked, and growth is set to soften due to weak international demand. Prudent fiscal policy has resulted in low debt, but spending pressures related to meeting infrastructure needs and ageing are mounting. Old age poverty is high and the proposal to allow early withdrawal of pension funds threatens macroeconomic stability and pension adequacy. The gender wage gap is among the highest in the OECD, and inequalities in income and health are considerable, reflecting gaps in the social safety net. The oil-shale sector is highly energy-intensive and is the main culprit behind Estonia’s high greenhouse gas emissions, but reducing dependence on the sector is challenging, as it is an important employer and meets 70% of Estonia’s energy needs.
This volume collects four studies that were prepared as background research to the 2018 OECD Economic Survey of the United States. Using micro-data survey responses, regional and sectorial data, these studies seek to provide insights into employment responds to labour market disruption ...
Economic activity has contracted less in Korea than in other OECD countries, thanks to the prompt and effective reaction of the authorities to contain the spread of the COVID-19 virus and to the wide-ranging government support to households and businesses. Nevertheless, the pandemic generates strong headwinds.
The coronavirus pandemic has hit the US economy hard. Fiscal and monetary support measures were rapidly deployed and there remains space for further policy support, if needed. However, with the shuttering of many businesses, unemployment has surged and many have left the labour force.
Like many countries, the United Kingdom has been hit severely by the COVID-19 outbreak. A strict lockdown was essential to contain the pandemic but halted activity in many key sectors. While restrictions have eased, the country now faces a prolonged period of disruption to activity and jobs, which risks exacerbating pre-existing weak productivity growth, inequalities, child poverty and regional disparities. On-going measures to prevent a second wave of infections will need to be carefully calibrated to manage the economic impact.
OECD's 1964 Economic Survey of the United States examines the internal economy, demand management and the balance of payments and draws a series of conclusions.