SUMMARY
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More young people in rich countries are unemployed. The Organization for Economic Cooperation and Development (OECD) said on Tuesday, September 11, that unemployment rate in advanced countries rose from 7.9% in June to 8% in July. Close to 50 million were ranked unemployed, of which about 12 million were classified as youths. The highest unemployment rate was recorded in Spain at 25.1%, followed by Portugal at 15.7%, and Ireland at 14.9%. The rates in Australia, Austria, Germany, Japan, South Korea, Luxembourg, Mexico and the Netherlands were at 5.5%.
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