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The UK economy continues to recover slowly with GDP growth expected to approach 1% in 2013 and 1.5% in 2014. The unemployment rate has been around 8%, significantly higher than its level before the recession, since 2010, and is not expected to fall rapidly
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Germany’s labour market continues to perform well in comparison with other major developed economies.
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High levels of unemployment are set to continue in Spain. The harmonised unemployment rate in Spain is the second highest in the OECD area (26.9% in May 2013), only exceeded by Greece (27%) and well above the OECD average (8%).
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The Korean labour market continues to perform well after a quick recovery from the global economic crisis.
The OECD area employment rate - defined as the proportion of people of working age (those aged 15 to 64) who are employed - was 64.9% in the first quarter of 2012.
Governments should use every possible means at their disposal to help jobseekers, especially young people, by removing barriers to job creation and investing in their education and skills. The young are at most risk of long-term damage to their careers and livelihoods, said Angel Gurría.
Employment: OECD sees high jobless rates continuing - more must be done urgently to boost job creation and help jobseekers
The OECD area unemployment rate was unchanged at 7.9% in May 2012 compared with the previous month. While the rate has hovered around this level since January 2011, it remains 2.1 percentage points higher than the level recorded four years earlier.
Unit labour costs (ULCs) in the OECD area rose by 0.3 % in the first quarter of 2012, the same rate as in the previous quarter, according to early estimates. This reflects increased labour compensation per unit of labour input and unchanged labour productivity.
The OECD area unemployment rate was unchanged at 7.9% in April 2012, around the same rate observed since January 2011, but 2.3 percentage points higher than the level recorded four years earlier. Differences in unemployment rates across OECD countries remain large.