OECD predicts record eurozone unemployment for 2014

The Organization for Economic Cooperation and Development (OECD) believes unemployment in the eurozone will reach a new record by the end of 2014. In other industrialized countries job creation will be picking up slowly.

Mass unemployment will remain a problem in the 18-nation eurozone, set to increase from 12.1 percent to 12.3 percent by the end of 2014, the Organization for Economic Cooperation and Development (OECD) said Tuesday.
However, there would be vast national differences in the jobs markets of the single currency area, the OECD said in its annual Employment Outlook report.
The jobless rate in Germany, for example, was expected to fall below the current level of 5 percent, while those in Spain and Greece would jump to around 28 percent, the report said.
Source and full story: Deutsche Welle, 16 July 2013