The Organization for Economic Co-operation and Development (OECD) reported a 7.9% unemployment rate for the month of September 2013, unchanged from previous monthly levels. OECD unemployment in absolute numbers stood at 47.9 million persons, 0.1 million less than August 2013 levels. OECD unemployment However, unemployment among the developed nations has grown exponentially in recent years. In July 2008, unemployment across the OECD area stood at a mere 34.7 million persons, a 38% increase over the past five years. Figure 1: OECD Unemployment Rates Problems across Europe and other areas The unemployment rate across the euro area was much higher and…
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