The world’s developed economies have got a new stage of unemployment – its level is back down to before financial crisis. According to data from OECD unemployment level fell 5.6pc in October across the 35 countries, while in 2010 its peak was 8.5pc.

The world’s developed economies have got a new stage of unemployment – its level is back down to before financial crisis. According to data from OECD unemployment level fell 5.6pc in October across the 35 countries, while in 2010 its peak was 8.5pc.

U.S. households with income of more than $150,000 a year have an unemployment rate of 3.2 percent, a level traditionally defined as full employment. At the same time, middle-income workers are increasingly pushed into lower-wage jobs. Many of them in turn are displacing lower-skilled, low-income workers, who become unemployed or...