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OECD Not Optimistic About Lower Unemployment Next Year

A report from a leading international economic body is laying out the hope that unemployment across the world’s advanced economies may fall next year despite further rises in a number of European countries.

In a report Tuesday, the Organization for Economic Cooperation and Development (OECD) is forecasting that the jobless rate for the countries that use the euro will rise from 12.2 percent to 12.3 percent by the end of next year, but many countries, like Greece, Spain and Portugal, will see a much sharper increase.

The OECD says young people and low-skilled workers have borne the brunt of the crisis.

For the 34-country OECD, unemployment is projected to fall slightly next year from 8 percent to 7.8 percent. The United States and Germany will both see unemployment fall significantly.

via CNBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza