(27 November 2017) – New well-being data released today expose deep divisions in our society along fault lines of age, wealth, gender and education.
The OECD’s latest ‘How’s Life?’ report shows that while some aspects of well-being have improved since 2005, too many people are unable to share the benefits of the modest recovery that is underway in many OECD countries.
Average annual earnings have risen by a cumulative 7 percent across OECD countries since 2005, but this is roughly half the growth rate observed in the decade prior to 2005. And although average life expectancy has gone up by nearly two years over the past decade and in most OECD countries more people now have jobs than in 2005, other indicators are flashing warning lights.
Job insecurity has risen by a third since it was first measured in 2007. Long term unemployment remains higher than in 2005 while average life satisfaction is slightly lower. Voter turnout has decreased, and the share of people who feel supported by friends and family has fallen by 3 percentage points.