OECD unemployment rate stable at 7.9% in August 2013
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10/10/2013 - The OECD unemployment rate stood at 7.9% in August 2013, unchanged from the previous month. Across the OECD area, 47.8 million persons were unemployed in August 2013, the same level as in July but 13.1 million more than in July 2008.
In the euro area, the unemployment rate remained at a high 12.0% in August, after having declined by 0.1 percentage point in July, the first fall since February 2011. The unemployment rate decreased by 0.1 percentage point in the United States (to 7.3%) and in Canada (to 7.1%), while it increased by 0.3 percentage points in Japan (to 4.1%).
In August, the OECD unemployment rate for men was up 0.1 percentage point from the previous month to 7.9%, and stable for women and youth, at 7.9% and 16.0%, respectively.
Trends in unemployment rates since the start of the crisis have differed across population groups. In August, the OECD unemployment rate for men was 1.0 percentage point below the peak of 8.9% reached in October 2009. By contrast, the OECD unemployment rate for women was only 0.3 percentage point below its highest level of 8.2% reached in December 2012, having hovered around 8.0% since July 2009. In August 2013, the unemployment rates for men and women were, respectively, 2.0 and 1.9 percentage points above their pre-crisis level in July 2008. The OECD unemployment rate for youth was 1.3 percentage points below the peak reached in October 2009, but still 3.0 percentage points above its pre-crisis level. In August 2013, more than one active youth in three was unemployed in Italy, Portugal and Slovak Republic, and more than one in two in Greece and Spain.