Macro Markets and Machines_The Economic and Market Transformation Driven by AI_GWM report - Flipbook - Page 44
Macro, Markets, and Machines
November 2025
Exhibit 37 – Net Replacement Rates After Job Loss: Employment Insurance Varies Widely Across Countries
70%
60%
% unemployment income as a share of
disposable household income before job
loss
50%
40%
30%
20%
10%
0%
OECD
Canada
6 mths
Germany
12 mths
Japan
24 mths
U.S.
60 mths
Note: Reflects annualized household income during unemployment as a share of disposable household income before job loss for a single
person, no children.
Sources: OECD; Scotiabank Economics.
Exhibit 38 – Active Labour Market Policy Spending: Spending on Targeted Adjustments Is Limited
Across Countries
0.6%
0.5%
0.4%
0.3%
0.2%
0.1%
0.0%
OECD
Direct job creation
U.S.
Canada
Employment incentives
Germany
France
U.K.
Placement and related services
Italy
Start-up incentives
Japan
Training
Sources: OECD; Scotiabank Economics.
Scotia Wealth Management
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