OECD: Unemployment increasing throughout developed world

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OECD: Unemployment increasing throughout developed world

Tue 13th Jan 2009

Figures released recently by the Organisation for Economic Cooperation and Development have shown that unemployment in on the rise throughout the developed world as economies go into recession.

The data shows that for the last month for which data was available, the UK's unemployment rate stood at 5.9 per cent.

This is lower than the figure given for the unemployment rate in the eurozone, which stood at 7.8 per cent a month later.

In the US, the unemployment rate in December 2008 stood at 7.2 per cent, which represents a 2.3 per cent increase on the previous year.

Citizens Advice reported that it had recorded a 66 per cent increase in the number of enquiries related to unemployment in recent months.

David Harker, chief executive of Citizens Advice, said: "Rarely a day goes by without reports of yet another company announcing job cuts."

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