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[audioFiles]2013w28/audio_ezfj_170_20138[/audioFiles] OECD Says
[audioFiles]2013w28/audio_ezfj_170_20138[/audioFiles] OECD Says
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2024-09-30
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OECD Says Unemployment Will Continue to Rise
Indications that unemployment continues to rise/ is grim news for leaders heading to the G-20 summit in the United States next week. / The Paris-based Organization for Economic Cooperation and Development reports unemployment reached its highest level among industrialized nations of 8. 5 percent in July. /
OECD unemployment division chief Stephan Scarpetta says/ the number of jobless among the OECD’s 30 member countries is expected to climb even higher next year, to nearly 10 percent./ That translates into 57 million people out of work./
Unfortunately, despite the most recent indicators/ that suggest the economic recovery somewhat earlier than we were expecting only a few months/ it will take far longer for the recovery to materialize in terms of significant improvement in the labor market. /
The United States, Spain and Ireland are among those corntries with the fastest rising unemployment. / All three were affected by the collapse of high housing prices. / The damage spread to other sectors of the economy. /
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