- MarketPulse - https://www.marketpulse.com -

OECD: European Unemployment to Keep Rising

The social impact of the European economic crisis shows little sign of abating, with unemployment in Spain, Greece and other southern European economies expected to continue to rise through the end of next year, the Organization for Economic Cooperation and Development said in a study published Tuesday.

Joblessness is expected to continue edging up, to about 28 percent in Spain and Greece, 12.5 percent in Italy and 11 percent in France by the end of 2014, the Paris-based O.E.C.D. said in its forecast. Young people and the low-skilled will be affected the most, according to the organization, which represents 34 of the world’s largest economies. Two of the biggest exceptions to the trend are the United States and Germany, where the number of people out of work is expected to decline further next year, the study said.

“The social scars of the crisis are far from being healed,” the organization’s secretary general, Ángel Gurría, said.

NY Times [1]

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

marketpulsefxstaff

Latest posts by marketpulsefxstaff (see all [4])