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.
Growth in Unit labour costs (ULCs) in the OECD area accelerated to 0.6% in the fourth quarter of 2012, compared to 0.2% in the third quarter. Overall, growth in labour compensation per unit of labour input slowed marginally (to 0.3% compared to 0.4% in the third quarter). But this was more than offset by a significant slowdown in labour productivity (minus 0.3% compared to plus 0.2% in the previous quarter).
The OECD unemployment rate increased to 8.1% in January 2013, compared with 8.0% in the previous month.
The OECD unemployment rate was stable at 8.0% in December 2012, unchanged from the previous month.
The gap between rich and poor in OECD countries has reached its highest level for over over 30 years, and governments must act quickly to tackle inequality, according to a new OECD report.