The OECD unemployment forecast

The OECD unemployment forecast


2020-07-09 09:38:22

Because of the coronavirus epidemic, unemployment in advanced countries can surpass even the times of the Great Depression. It will not be possible to return to the pre-crisis indicator until 2022. This forecast is contained inside the record of the Organization for economic cooperation and development.

"The pandemic has nullified all the development made within the labor market during the last decade," said angel Gurria, head of the OECD.

According to experts, although the scenario develops the most optimistic scenario, the unemployment price will develop through 4 points by the give up of this year and will exceed the mark of 9%. Well, inside the worst case, this indicator can be 12.6%.

Moreover, as Gurria underlined, those figures do not replicate the problems that hundreds of lots and even thousands and thousands of people will face within the labor markets within the OECD countries. The most significant growth in unemployment can be determined within the US. As for Europe, it is normally nations together with France, Italy, and Spain - in different words, the countries most affected by COVID-19.

In contrast to previous crises, women are now more affected by unemployment than the male population. The only exception is the medical industry, since two-thirds of the world's medical professionals are women, including 85% of nurses and midwives.

In addition to women, the second most vulnerable group is young people. Especially University graduates, who in the coming months threat dealing with big difficulties in finding a new job.


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