The Organization for Economic Co-operation and Development (OECD) has come up with disturbing figures about the job market. The global recession could still cost the jobs of nearly 25 million people. Although there was positive signs of recovery in 30 member countries, recession is still the toll on many lives.

According to OECD, already approximately fifteen million jobs have been lost around the globe and there are chances of losing ten more million jobs by the end of 2010. The industrialized nations have been reported to have an unemployment rate of 8.5 percent in July 2009. Spain, US and the Irish republic seem to the worst hit in the OECD records, with the rates of unemployment going as high as 9.7 percent.

This economic crisis has had its severe effects on the immigrants, the part time or the temporary job hunters, the students fresh out of college and the less privileged in the society. Few countries like Japan, Germany and France has been showing some economic growth in the second quarter. However, the job market is still to recover. Only the growth in the economy can take of this.

Via: BBC