Employment will remain below the level it was before the 2007-08 global financial crisis until at least the end of 2016, the Paris-based Organization for Economic Co-operation and Development (OECD) said Thursday. The estimate was issued with the rider that the "jobs recovery is slowly gathering pace" in the 34 countries that are members of the organization. "The OECD Employment Outlook 2015 says that around 42 million people are currently without work across the OECD, down from 45 million in 2014, but still 10 million more than just before the crisis," dpa quoted the report as saying. Unemployment, now at 7.1 percent, would continue to decline to 6.5 percent of the working population in the last quarter of 2016 but would still be higher than the 5.6 per cent recorded before the crisis, the OECD predicted. The jobless rate would remain above 20 percent in crisis-hit Spain and Greece, it said.
