Unemployment yet to hit peak in Europe’s troubled periphery

A REPORT released by the Organisation for Economic Co-operation and Development (OECD) suggests that unemployment will continue to rise in the Eurozone.

The study predicts that the euro area’s unemployment will hit 12.3 per cent in 2014, with an increase of one per cent or more in the level of unemployment in Italy, Greece, the Netherlands, Portugal and Spain.

The UK was credited with passing labour market reforms which prevented a more severe spike in joblessness.