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OECD unemployment rate stable at 7.9% in October 2013. Unchanged from the two previous months. Across the OECD area, 47.8 million persons were unemployed in October 2013, 13.1 million more than in July 2008.
The OECD unemployment rate was stable at 7.9% in September 2013. Across the OECD area, 47.9 million persons were unemployed, 0.1 million less than in August 2013, but still 13.2 million more than in July 2008.
Brazil’s strong economic growth has helped cut the youth unemployment rate over the past decade to levels below those of most OECD countries. Increased investment in education and vocational training is also helping young people get a foot in the jobs market, according to a new OECD report.
The OECD area employment rate was 65.1% in the second quarter of 2013, 0.1 percentage point higher than in the previous quarter. This was still 1.4 percentage points below the level recorded in the second quarter of 2008, the quarter preceding the start of the global financial crisis.
The low-skilled are more likely than others to be unemployed, have bad health and earn much less, according to the first OECD Survey of Adult Skills. Countries with greater inequality in skills proficiency also have higher income inequality.
Unit labour costs (ULCs) in OECD countries fell 0.2% in the second quarter of 2013 as labour productivity growth (0.4%) outpaced a rise in labour compensation (0.2%).
Ireland’s economy is now showing encouraging signs of recovery from the financial crisis, but more must be done to reinvigorate growth and create the jobs that will get the country back to full health, according to the OECD.
Joint statement by ILO Director-General Guy Ryder and OECD Secretary-General Angel Gurría on the occasion of the G20 Labour and Employment Ministers’ Meeting, Moscow, 18-19 July 2013
Unemployment in OECD countries will remain high through 2014, with young people and the low-skilled hit hardest, according to a new OECD report.
The OECD area employment rate – defined as the share of people of working-age who are employed – was 65.1% in the first quarter of 2013, unchanged from the previous quarter, and 0.2 percentage point higher than one year ago. This was still 1.4 percentage points below the level recorded in the second quarter of 2008, the quarter preceding the start of the global financial crisis.