The unemployment rate in the OECD advanced economies reached 8.6% in August, 0.1 percentage points up from July and 2.3 points higher than in August 2008, the OECD said today.
Senior finance officials have warned unemployment will likely continue to rise for another year in developed economies even as economic growth returns across much of the world after the worst global recession since World War II.
The Paris-based Organisation for Economic Cooperation and Development (OECD) groups 30 developed economies including major European nations such as Britain, France and Germany as well as Australia, Japan and the US.
