The report says that jobless rates will fall only slightly over the next 18 months, from 8.0% in May 2013 to 7.8% at the end of 2014, leaving around 48 million people out of work in the 34 OECD countries.
The study reveals big, widening disparities between countries. Unemployment in the US is projected to fall from 7.6% in May 2013 to below 7% by the end of 2014. In Germany, the unemployment rate will decline from 5.3% to under 5%. But in the rest of Europe, joblessness will remain flat or even rise in many countries. By end 2014, unemployment is expected to be just over 11% in France, around 12.5% in Italy, and close to 28% in Spain and Greece.
The full text is available for the IESE Community here.