Recovery Too Weak to Halt Rising Joblessness?
The economic recovery now spreading across developed countries is too weak to halt the continuing rise in unemployment, according to the Organisation for Economic Co-Operation and Development. The jobless rate is expected to peak in the first half of 2010 in the U.S., but it may not be until 2011 that unemployment begins to fall in the Euro area, the organization of 30 countries says. With households and businesses repairing their finances and reducing their debts, a subdued recovery and substantial spare capacity are projected to continue well into 2010.
Source: Organisation for Economic Co-Operation and Development (as quoted by Harvard Business Review's The Daily Stat)
- November 24, 2009
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