How happy is your country?If you live in Norway, you currently live in the happiest country in the world
according to the 2017 edition of the World Happiness Report. Canada ranks 7th this year, down one spot from 2016, while the
United States (US) ranks 14th, down one spot from 2016. The Central African Republic is the least happy country measured by the ranking. Scandinavian countries, in particular, performed well on the ranking. The World Happiness Report
ranks 155 countries based on happiness levels, rather than more traditional metrics like gross domestic product, as a measurement of social progress. Happiness indicators can be used to inform public policy. The 2017 ranking, the fifth to be released since 2012, covers topics that include happiness in the workplace, key determinants of happiness and misery, the social foundations of happiness, and restoring happiness in the US. The ranking was determined by how respondents in the countries surveyed
rank their lives, from the best possible life to the worst possible life for them. The ranking for 2017 is based on averages from 2014 to 2016. These findings were then studied to determine the impact of six factors (GDP per capita, life expectancy, generosity, social support, corruption, and freedom) on national happiness. Based on the report’s findings, increased wealth doesn’t make countries significantly happier. And, in wealthy countries the
biggest single cause of unhappiness is mental illness. For economic developers and workforce developers, the ranking provides insight into happiness at work, with happiness levels differing based on employment status, industry, and job type. These are interesting considerations for those concerned with job creation and job quality.
Are you engaging NEETs in your community?Forty million young people are still neither employed nor in education or training according to a recent Organisation for Economic Co-operation and Development (OECD) report,
Society at a Glance 2016. These youth who are not in employment, education, or training (NEETs) now represent 15% of OECD member nations’ youth population. In general,
NEETs face dismal economic prospects. In Canada, NEETs account for roughly 12% of the youth population. As a result, roughly one out of every seven young people in Canada are outside the traditional channels of economic mobility. Young women are 1.4 times more likely to become NEETs than their male counterparts. The high number of NEETs represents a major economic cost according to the OECD report. It estimates that NEETs could have contributed US$360 billion to US$605 billion in economic activity, roughly 0.9% to 1.5% of OECD GDP, in 2014. As such, helping young people transition into further
education or employment is now at the top of the policy agenda in the OECD. The report outlines recommendations for helping NEETs to engage in education and employment opportunities. These include ensuring young people complete upper-secondary schooling, offering options for vocational education and training, and using carefully targeted programs to re-engage NEETs.
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Measuring inclusive growth The global economy is facing increasing levels of
inequality, while growth and productivity have slowed considerably. The need to create inclusive growth is recognized. The 47th World Economic Forum (WEF) Annual Meeting held in January 2017, for example, called for “a deeper commitment to inclusive development and equitable growth, both nationally and globally.” The WEF recently released the
Inclusive Growth and Development Report that measures the inclusive growth performance of 109 countries by considering 12 Key Performance Indicators (KPI’s) within three pillars – growth and development, inclusion, and intergenerational equity and sustainability. The report also introduced the Inclusive Development Index (IDI). Measuring growth and progress in terms of GDP
alone does not account for social inclusion and well-being. The IDI, on the other hand, provides “a more integrated picture of the relative state of economic development – broad-based advancement of living standards rather than increased production of goods and services.” Canada ranks 15th on the IDI, with a high employment rate, strong education system, and access to business financing options. However, income inequality and carbon intensity of GDP is high. The policy framework shows that Canada can benefit from “broadening family-leave policies, making child care more accessible and affordable to increase the participation of women in the workforce, and taking measures to foster greater entrepreneurship for new business creation and scaling.”
Are today's factories tomorrow's data centers?The factories of today could be the data centers of tomorrow according to a recent report by Graham Pickren, The Factories Of The Past Are Turning Into Data Centers of The Future. The report provides insight into the impact that data centers and the information-based economy have on American cities. In a data-driven world, data centers are becoming much like modern factories in their dependence on
energy and capital-intensive infrastructure as well as their potential to create economic growth. For the City of Chicago, data centers provide a significant contribution to the technological growth strategy as companies often rely on storing large amounts of data. In another example, a study on the importance of
capturing the data center opportunity and the economic impact the digital infrastructure describes how the data center could become a significant component of Sweden’s economy in the future. The country has already begun to reduce taxes
in its effort to support the rise data centers. One of the key factors to a successful data center operation is the management of energy efficiency. A report by Berkeley Lab,
United States Data Centre Energy Usage Report, shows that data center electricity consumption is slightly increasing. However, energy efficiency solutions are being implemented and could be more effective with the right strategies and technologies. With the digitalization of the economy, data centers are becoming increasingly important to the development of local economies and the implementation of sustainability initiatives.
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Introducing Chris BandakChris Bandak recently joined the MDB team as its new Executive Vice-President of Research and Analytics. Chris will be sharing his expertise as a regular contributor to TINAN on topics related to designing and implementing research studies. With more than 20 years of experience in the market research industry, Chris is a recognized expert in the field. He has worked on a range of marketing and community research initiatives, including more than 200 research projects for municipalities across Canada. If you have article requests around research and analysis methods or best practices,
connect with Chris by email.
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