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OECD Unemployment Rate Steady

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Fuseworks Media
Fuseworks Media
OECD Unemployment Rate Steady

OECD unemployment rate steady at 8.5% in July In July 2010, the unemployment rate for the OECD area was steady at 8.5%, unchanged from the previous month and down slightly from the 8.6% level recorded in May.

The general pattern of broad stability holds in most OECD countries.

In August2010 however, the unemployment rates increased slightly (by 0.1percentage point) in both Canada (to 8.1%) and the United States (to 9.6%). The OECD unemployment rate remains at a level close to post-war highs. The July unemployment rate was highest in Spain (20.3%), the Slovak Republic (15.0%), Ireland(13.6%), Portugal (10.8%) and Hungary (10.3%), with the lowest rates in Korea (3.7%) and Austria (3.8%).

The number of unemployed persons in OECD countries stood at 45.5million in July 2010, an increase of 13.4million compared with July2008.

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