OECD says rise in labor market participation could ease wage gains

The Organisation for Economic Co-operation and Development (OECD) said in a report on October 26, 2023 that a rise in labor market participation could help to ease wage gains. The OECD said that an increase in the number of people working would help to meet the demand for labor, which would put downward pressure on wages.

The report said that a rise in labor market participation could also help to boost economic growth. The OECD said that an increase in the number of people working would lead to an increase in the production of goods and services, which would boost the economy.

The report said that there are a number of factors that could contribute to a rise in labor market participation. These include:

• An increase in the population of working age.
• A decrease in the retirement age.
• An increase in the number of women in the workforce.
• A decrease in the unemployment rate.

The report said that governments can play a role in encouraging labor market participation by providing affordable childcare, improving access to education and training, and reducing discrimination in the workplace.