Despite a modest decline in unemployment since late 2009 in developed countries, the number of people unemployed for over a year is continuing to rise, according to a report published yesterday (15 September) by the Organisation for Economic Cooperation and Development (OECD).
The study, which covered the world's wealthiest countries, found that while the average unemployment rate has been slowly declining, the proportion of jobseekers who are out of work for over a year increased from 24.2% to 32.4% between 2009 and 2010. Some European countries were among the worst hit, (...)
with the proportion of long-term unemployed rising between 2009 and 2010 from 30.2 to 45.1% in Spain, 29 to 49% in Ireland and 24.5% to 32.6% in the United Kingdom. In contrast, Germany is singled out as the only major economy surveyed whose long-term unemployment rate had actually declined.
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