How Has the Global Economic Crisis Affected People with Different Levels of Education?

Abstract

Between 2008 and 2009, unemployment rates across OECD countries increased among people at all educational levels, but rose to especially troubling heights among people without an upper secondary education. In 2009, the average employment rate across OECD countries was much higher for individuals with a tertiary (i.e. higher) education – indicating a better match between the skills these people have and the skills the labour market required. Between 2008 and 2009, the earnings advantage for people with a tertiary education remained strong in OECD countries. In some countries, earnings inequality between people with a tertiary education and those without an upper secondary education widened even further.