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OECD jobless rate up in April
UNEMPLOYMENT rose in the world’s biggest economies, according to the Organisation for Economic Cooperation and Development (OECD). The rate for the OECD area was 7.8 per cent in April, 2.2 percentage points higher on a year earlier.
In the Eurozone, the rate of unemployment was 9.2 per cent in April, while the US saw unemployment rise to 9.4 per cent in May. Japan’s unemployment rate increased to 5 per cent in April while the UK hit 6.9 per cent in February. Economists expect OECD unemployment to rise until the second half of 2010.