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  • Recession Could Cost 25 Million Jobs

    09/16/2009 3:45:01 AM PDT · by Red in Blue PA · 8 replies · 586+ views
    CNBC ^ | 9/16/2009 | Staff
    The economic downturn will likely cost as many as 25 million people their jobs by end-2010 as the unemployment rate nears a record 10 percent in the OECD group of countries, according to a report released on Wednesday. The Organization for Economic Co-operation and Development said 15 million jobs were lost between end-2007 and July 2009 and 10 million more could go by the end of next year despite signs that the economy is picking up. "A major risk is that much of this large hike in unemployment becomes structural in nature," the report said.