Saturday, April 30, 2011

The 10 Countries Where Unemployment Rose Most During The Recession: OECD

Since the financial crisis first pulled the world into the Great Recession, unemployment has become a global problem.

A new report released by the Paris-based Organisation for Economic Co-operation and Development entitled "Society at a Glance 2011 - OECD Social Indicators" includes data on the rising levels of global unemployment between 2007-2009, the years where the recession peaked.

Many countries on the list have seen high unemployment rates for years, most notably Spain, whose unemployment rate recently hit a Eurozone record at 21.3 percent, with 4.9 million Spaniards now jobless.

Other countries have trended in the opposite direction, however. Germany, for one, has watched its unemployment rate fall to 7.1 percent from 7.8 percent at the time of the report's publication. The United States has also seen some recent improvement, albeit notably less steep than Germany's drop.

Despite these improvements, the OECD's report finds that unemployment rates overall have increased across the globe, with the fews exceptions including Israel, Poland and South Africa.

Below are the nations whose unemployment rates have risen most since the Great Recession:


10. U.K.
2011 unemployment rate: 7.8 percent
2009 unemployment rate: 7.8 percent
Percent unemployment rate increase 2007 - 2009: 2.5 percent

9. New Zealand
2011 unemployment rate: 6.8 percent
2009 unemployment rate: 6.3 percent
Percent unemployment rate increase 2007 - 2009: 2.5 percent

8. Greece
2011 unemployment rate: 15.1 percent
2009 rate of unemployment: 9.6 percent
Percent unemployment rate increase 2007 - 2009: 2.6 percent

7. Portugal
2011 unemployment rate: 11.1 percent
2009 rate of unemployment: 10 percent
Percent unemployment rate increase 2007 - 2009: 2.7 percent

6. Turkey
2011 unemployment rate: 11.9 percent (Jan.)
2009 rate of unemployment: 14.3 percent
Percent unemployment rate increase 2007 - 2009: 3.8 percent

5. United States Of America
2011 unemployment rate: 8.8 percent
2009 unemployment rate: 9.4 percent
Percent unemployment rate increase 2007 - 2009: 4.7 percent

4. Iceland
2011 Unemployment rate: 7.8 percent
2009 rate of unemployment: 7.4 percent
Percent unemployment rate increase 2007 - 2009: 5.1 percent

3. Ireland
2011 unemployment rate: 14.9 percent
2009 rate of unemployment: 12.2 percent
Percent unemployment rate increase 2007 - 2009: 7.5 percent

2. Estonia
2011 unemployment rate: 10.2 percent
2009 rate of unemployment: 14.1 percent
Percent unemployment rate increase 2007 - 2009: 9.3 percent

1. Spain
2011 unemployment rate: 21.3 percent.
2009 unemployment rate: 18.1 percent
Percent unemployment rate increase 2007 - 2009: 9.6 percent


Social indicators

Global unemployment has reached dangerous levels, ILO report shows
ILO data provides an alarming picture of joblessness, especially among the young, that surely threatens more political instability

US Federal Reserve cuts economic growth forecast

Wells Fargo: Florida’s economy sees weak improvement

No comments:

Post a Comment