Europe unemployment to continue in 2013

Unless leaders fix failing economies, a whole generation may be lost forever to the job market, report says.

    Unemployment in advanced economies will remain high until the end of next year, according to the Organisation for Economic Co-operation and Development (OECD).

    The report says the jobless rate will be at 7.7 per cent by the end of 2013, with around 48 million people out of work.

    In Greece and Spain, where crippling national debt levels and spending cuts have resulted in a downward spiral of recession, the danger is that those unemployed now may become a permanent structural part of the European economy.

    Al Jazeera's Simon McGregor Wood reports from Paris.

    SOURCE: Al Jazeera


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