Up to 25m people in high-income countries will have lost their jobs by the end of next year as the recession pushes the unemployment rate towards a record 10 per cent, the Organisation for Economic Co-operation and Development forecast on Wednesday.
The Paris-based OECD said that, while recent signs of economic recovery might mean unemployment peaked earlier and at a slightly lower level than its forecast, governments must intervene “quickly and decisively” to prevent the sharp rise turning into long-term joblessness.
