OECD: unemployment to stay high
According to the Organization for Economic Cooperation and Development (OECD), unemployment in the world’s developed countries is not forecasted to improve much through the end of 2014. At the end of April, OECD said the unemployment rate for 34 member countries stood at 8%. That number is projected to fall to 7.8% by the end of next year.
In a report published Tuesday, the Organization for Economic Cooperation and Development predicted that the jobless rate for the countries that use the euro would rise from 12.2% percent to 12.3% percent by the end of next year. Many countries, like Greece, Spain and Portugal will see a much sharper increase as their economies struggle to recover.
But good news is on the way for some countries. The United States could see its unemployment rate fall from 7.6% percent to 6.7% percent, while Germany's could drop from 5.3% to 4.7%.