The latest OECD (Organisation for Economic Co-operation and Development) Better Life Index figures, encompassing both OECD and UN data, show that in general Australians enjoy a higher quality of life than those in other developed economies. Australia, ranking just above Sweden and Canada, has an active workforce, with less than 1% of the workforce long-term unemployed. The average life expectancy is 82 years, and there’s also excellent water quality, healthy average discretionary expenditure and a high standard of education.

Ireland, meanwhile, rank below the likes of the US, Netherlands and the UK, but above Germany, France and Japan. We rate highly in terms of personal income (average of €39,000 per annum) and healthcare & life expectancy (80.6 years). Our homicide and assault rates are also both well below the OECD averages (e.g. 1.2 homicides per 100,000 in Ireland compared to the 2.2 average). However, our low employment rate (60%) and high percentage of the labour force that are long-term unemployed (8.52%, almost nine times higher than Australia, and over 5% higher than the OECD average) bring our ranking down significantly.

Perhaps surprisingly, Spain, Japan, Italy and Korea all rank in the bottom half of the index, along with several Eastern European and South American states. Chile, Mexico and Turkey are the lowest rated countries overall. You can find the full statistics at the OECD’s website.

The OECD also revised their Economic Outlook estimates, decreasing their 2013 world economic growth expectations from 3.4% to 3.1%. While forecasting growth in the strong Japanese and US economies, the Eurozone overall is expected to remain in recession.