OECD forecasts higher unemployment figures in 2008, 2009

The Organization for Economic Cooperation and Development (OECD) is predicting an average rise in unemployment in 2008 and 2009, while calling for efforts to combat racism and discrimination against women. Published in Paris Wednesday, the annual report on employment perspectives, which covers the 30 OECD member states, reveals that “growth in employment figures is expected to slow down significantly in both 2008 and 2009.” Unlike between 1995 and 2005, when the curve of job creation recorded an average growth of 1.1% in the OECD member states, the rise will slacken to 0.7% in 2008, before falling further to 0.5% in 2009. “The downward trend in unemployment in recent years should be reversed in 2008, with the number of jobless people in the OECD zone increasing by up to 1 million in 2008, and nearly 2 million in 2009,”... [read full story]                    

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