Employment and Unemployment

In creating the Organisation for Economic Co-operation and Development in 1960 as the successor to the Organisation for European Economic Co-operation, the (then) twenty signatory countries to the OECD convention ‘established their basic aims as the promoting of policies designed: a) to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; b) to contribute to sound economic expansion in member as well as non-member countries in the process of economic development; and c) to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations’1.