It highlights how OECD countries and partner Please try again or select another dataset. "Unemployment in the median OECD economy this year is projected to be at the highest level for twenty-five years, and ease only slowly in 2021," it warned. The OECD's latest outlook is a downgrade on the group's 2018 forecast that global economic growth would reach 4% in 2019, OECD chief economist Laurence Boone wrote in a blog post. If the virus subsides by the summer (the single-hit scenario), GDP is projected to shrink by 6.5% in 2020, as a consequence of measures put in place to contain the spread … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Sign up for free newsletters and get more CNBC delivered to your inbox. It added that "by the end of 2021, the loss of income exceeds that of any previous recession over the last 100 years outside wartime, with dire and long-lasting consequences for people, firms and governments.". 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