OECD warns of worst recession since early 1980s

This article is regarding the current economic recession. According to Organization for Economic Cooperations and Development (OECD), the world recession is the worst since the early 1980s. The output expected will decrease by 0.4 in 2009 for the 30 market democracies that makes up the membership of OECD countries. As a result, number of unemployment would also rise over 8 million, in addition to deflation.

Especially, for U.S, and Japan, the contraction is expected as 0.9 and 0.1 respectively.

According to the OECD's chief economist, many OECD economies are in a protracted recession of a magnitude not expected since the early 198s.

I think it gives another aspect of the current recession, by showing that even the members of the OECD countries arefacing slowing of growth and increase in unemployment