Monday, November 23, 2009
Unemployment Will Remain High in US, Europe Until 2011
The Organization for Economic Cooperation and Development (OECD) has announced that they expect unemployment rates to remain high in both the United States and Europe until 2011. They do believe that most of the countries will either be out or coming out of the economic crisis by that time, but that the unemployment recovery will be slow. According to the OECD, US unemployment rates are expected to dip below 10% in the third quarter of 2010 and most likely stay above 9% until the end of 2011. It is also expected that unemployment in Europe will rise to about 11% in 2010 and will stay at more or less that rate until 2011.