Job creation and local economic development 2020: Rebuilding better (OECD)

The OECD has just published the report “Job Creation and Local Economic Development 2020: Rebuilding Better.

The impact of COVID-19 on local jobs and workers dwarfs those of the 2008 global financial crisis. The 2020 edition of Job Creation and Local Economic Development considers the short-term impacts on local labour markets as well as the longer-term implications for local development.

Chapter 1 explores the immediate local employment impacts of the crisis, the divides within and across local labour markets even prior to the pandemic, and the likely diverging recovery patterns.

Chapter 2 considers the underlying trends that COVID-19 will accelerate (digitalisation, the automation of jobs and polarisation of skill profiles; a transition to greener jobs) or slow down (reconfigured global supply chains, concentration of the high skilled in largest cities).

Chapter 3 explores local action in the recovery. It highlights the strategies to strengthen local employment services and training providers to meet the increased demand for job placement and skills upgrading, particularly for the most disadvantaged workers (youth, low-skilled, women) or business development to serve the hardest hit firms and sectors (tourism, culture, hospitality). It also considers strategies and tools to “rebuild better” by rethinking local development futures, taking advantage of the changing geography of jobs due to remote working or other opportunities such as the social economy.

Read this OECD publication from the OECD website.

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