Australia has been ranked as the world`s happiest nation among developed economies for third year in a row, with a whopping 84 per cent of the country`s population saying they are satisfied with their lives.
The wealthiest Americans have collected the bulk of the past three decades’ income gains. The share of national income of the richest 1 percent more than doubled between 1980 and 2008 from 8 percent to 18 percent.
The jobless rate in the OECD region
-- a grouping of developed and developing nations -- rose
marginally to 9.8 percent in October, indicating that the
labour market is yet to shrug off recession blues.
With inflationary pressures building up at the initial stages of recovery in the economy, choosing the right time for withdrawal of the fiscal and monetary stimulus remains a major challenge for the policymakers, the OECD said.