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The unemployment rate for the OECD area was 8.6% in September 2009, the same as the previous month and 2.3 percentage points higher than a year earlier.

Employers initiated 1,776 mass layoff events in the third quarter of 2009 that resulted in the separation of 277,924 workers from their jobs for at least 31 days, according to preliminary figures released by the U.S. Bureau of Labor Statistics. The number of extended mass layoff events reached a record high for any third quarter (with data available back to 1995). Third quarter program highs in the number of events were also recorded in half of the 18 major industry sectors, 2 of the 4 geographic regions, 4 of the 9 divisions, and 15 states.

On the heels of reports that credit companies are in a rush to raise interest rates to historic highs and implement new fees before regulation that limits such action takes effect, Consumers for Competitive Choice (C4CC), a diverse, national coalition of Americans including consumers and small businesses who support a consumer-focused economy, has just released a study titled, "The Credit Card Con," which examines the industry’s notoriously bad acts.

Developing countries can shift to lower-carbon paths while promoting development and reducing poverty, but this depends on financial and technical assistance from high-income countries, says a new World Bank report presented here. High-income countries also need to act quickly to reduce their carbon footprints and boost development of alternative energy sources to help tackle the problem of climate change.

The Conference Board Leading Economic Index™ (LEI) for the U.K. increased 1.0 percent, and The Conference Board Coincident Economic Index™ (CEI) increased 0.2 percent in September.

The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased two basis points last week to 4.84 percent, down from 4.86 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages fell two basis points to 4.29 percent from 4.31 percent, and 5-1 adjustable rate mortgages fell eight basis points to 3.71 percent, from 3.79 percent the week prior.

The European Restructuring Monitor (ERM) recorded a total of 326 cases of restructuring in the European Union between 1 July and 30 September 2009, involving some 119,000 announced job losses and 36,000 announced job gains. Restructuring activity as captured by the European Restructuring Monitor (ERM) has continued to reflect more normal levels of activity in the recent quarter. The surge in restructuring-related job loss that the ERM captured in the fourth quarter of 2008 and the first quarter of 2009 shows no sign of returning. Although most economic indicators point to an end of the economic downturn, it is unclear how labour markets will fare once public stimulus programmes have come to an end.

The percent of American single-family homes with mortgages in negative equity fell to 21 percent in the third quarter, down from 23 percent in the second, as home values stabilized in the short term and more underwater homeowners lost their homes to foreclosure, according to the third quarter Zillow Real Estate Market Reports.

Fitch Ratings says that Sweden and Finland's approval of the Nord Stream gas pipeline project to ship Russian natural gas to Germany, significantly decreases potential future EU gas supply risk. The approval of the EUR7.4bn pipeline also mitigates a significant regulatory risk to the project itself that could have resulted in it being delayed.

The Conference Board Employment Trends Index (ETI)™ increased for the second consecutive month. The ETI now stands at 89.3, up 0.7 percent from the revised September figure. The index is down 13.2 percent from a year ago.