OECD unemployment rate at 8.0% in February 2013
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11/04/2013 - The OECD unemployment rate decreased to 8.0% in February 2013, compared with 8.1% in the previous month.
The unemployment rate in the euro area was stable (at 12.0%) in February, but still 1.1 percentage point higher than its mid-90’s peak.
In February, the unemployment rate decreased in the United States (by 0.2 percentage point to 7.7%) while it was stable in Canada (at 7.0%) and rose in Japan (by 0.1 percentage point to 4.3%). More recent data referring to the month of March show that the unemployment rate continued to fall in the United States (by 0.1 percentage point to 7.6%) while it rose in Canada (by 0.2 percentage point to 7.2%).
Trends in unemployment rates across OECD countries have diverged significantly since the beginning of the economic and financial crisis. In March 2013, unemployment rates were significantly below the peaks they reached in the second half of 2009 in Canada and the United States (1.5 and 2.4 percentage points lower, respectively). In February, the unemployment rate in Japan was close to its pre-crisis level while it was significantly below that level in Germany (2.0 percentage points lower). By contrast, the unemployment rate reached a new peak in February in several European countries, including France (at 10.8%) and Spain (at 26.3%).
Overall, there were 48.7 million people unemployed in the OECD area in February 2013, 0.2 million less than in January, but 13.9 million more than in July 2008.