OECD unemployment rate stable at 7.9% in September 2013
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13/11/2013 - 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.
In the euro area, the unemployment rate was stable at 12.2%. This stability conceals diverging patterns across countries. In September, the unemployment rates increased by 0.1 percentage point in France (to 11.1%) and Italy (to 12.5%), reaching new peaks, while it decreased by 0.1 percentage point in Germany (to 5.2%),the lowest level since 1991.
Among other OECD countries, the unemployment rate rose in Mexico (by 0.1 percentage point to 5.0%), while it fell for, respectively, the third and second consecutive months in the United States (by 0.1 percentage point, to 7.2%) and in Canada (by 0.2 percentage point, to 6.9%). In September, unemployment rates also fell in Japan (by 0.1 percentage point, to 4.0%), Australia (by 0.2 percentage point, to 5.6%) and Korea (by 0.1 percentage point, to 3.0%). However, more recent data for October 2013 show that the unemployment rate edged up to 7.3% in the United States while it reminded stable in Canada.
The OECD unemployment rate for youth decreased by 0.1 percentage point, to 16.0%, while it increased by 0.1 percentage point in the euro area, to 24.1%. The youth unemployment rates increased significantly in France (by 0.5 percentage point, to 26.1%), while remaining stable in Spain (56.5%) and Portugal (36.9%) and falling in Ireland (by 0.4 percentage point, to 28.0%).