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OECD warns of entrenched unemployment

OECD warns of entrenched unemployment

The Organization for Economic Cooperation and Development is urging governments to act more boldly to stop a rise in long-term unemployment and keep young and vulnerable workers in the job market.
The Paris-based body says unemployment remains "stubbornly high" and is forecast to remain anemic in its member nations, which include the United States and leading rich countries.
In a report released Thursday, the OECD says its members had 44 million people registered unemployed in mid-2011 _ 13 million more than before the financial crisis.
It says "governments cannot stand still," and warns of high unemployment becoming entrenched. It says well-designed hiring subsidies and help for the most vulnerable should be priorities.
The OECD chief praised a jobs package in the United States that President Barack Obama is pushing.


Updated : 2021-10-17 17:27 GMT+08:00