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OECD unemployment rate declines but continues to be 14.3 mn higher than Feb 2008
By TII News Service
Apr 12, 2011 , Paris |
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WITH the OECD area economies consistently consolidating,
the unemployment rate has fallen again in February 2011 to 8.2%, down
by 0.1% point from January. The new March data shows further decline
of 0.1% point in the unemployment rates of both the USA (8.8%) and Canda
(7.7%).
The February data shows, for the first time since the recent financial crisis,
a pattern of declining or steady unemployment rates for the majority of OECD
countries. The unemployment rate fell in the Euro area to 9.9%, the first
time back into single digits since December 2009. Austria, Korea, Mexico
and Spain were the only countries recording rises in their unemployment rates.
Countries still experiencing very high unemployment rates include Hungary
(12.0%), Ireland (14.9%), Portugal (11.1%), the Slovak Republic (14.0%) and
Spain (20.5%).
There were 44.9 million unemployed persons in OECD countries in February
2011, down 2.1 million from February 2010 but 14.3 million higher
than in February 2008.
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