OECD Says Unemployment Rate to Remain High Until End of 2013
A new report shows the unemployment rate in advanced world economies will remain high at nearly EIGHT percent until the end of next year with about 48 million people jobless.
In its 2012 Employment Outlook Tuesday, the OECD forecast the jobless rate to be stuck at 7.7 percent at the end of next year, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past four decades.
OECD Secretary-General Angel Gurria called on governments to use every possible means to help jobseekers by removing barriers to job creation and investing in their education and skills.
In OECD countries, the unemployment rate was the highest in Spain at almost 25 percent, with double-digit rates also in France, Greece, Italy and Portugal.
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