OECD issues bleak European employment picture

<p>Employment in Europe will remain troubled, says the OECD.</p>

The latest report from the Organisation for Economic Cooperation and Development (OECD) has painted a bleak picture for employment in Europe.

Data released by the body showed jobless rates are expected to fall only slightly over the next 18 months, with the current figure standing at about eight per cent.

The OECD's report says this could drop to 7.8 per cent by the end of next year, but claimed this would still leave as many as 48 million people out of work in the 34 OECD countries.

OECD secretary-general Angel Gurria stated that there is still a long way to go until the "scars" of the economic crisis are healed across Europe.

"Many of our countries continue to struggle with high and persistent unemployment, particularly among youth," he said, adding that the hardship of the crisis has not been shared equally across the OECD nations.

European Commission president Jose Manuel Barroso recently said a new budget deal for the continent will help to bring down unemployment levels in European countries.

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