OECD unemployment rate unchanged

Unemployment in the 30-nation OECD area remained stable at 8.8 per cent in November, according to new figures.

Unemployment in the 30-nation OECD area remained stable at 8.8 per cent in November, according to new figures.

The unemployment rate was unchanged compared to October but was 2.1 per cent higher year-on-year, the OECD said.

In the Euro area, the unemployment rate was 10 per cent in November 2009, 0.1 percentage point higher than October and 2 per more than the same month a year earlier.

During November, the unemployment rate for France reached 10 per cent, 0.1 per cent higher than the previous month and 1.7 per cent more than November 2008. In Germany the rate was 7.6 per cent at the end of November, unchanged from October and 0.5 per cent higher than the same month a year earlier.

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For Japan, the unemployment rate was 5.2 per cent in November 2009, 0.1 per cent higher than the previous month and 1.2 per cent more on an annual basis.

For the United States and Canada the latest figures are for December.

According to the data, the unemployment rate in the US last month was 10 per cent, the same as the previous month and 2.6 percentage points higher than a year earlier.

Meanwhile in Canada, the unemployment rate was 8.5 per cent in December, unchanged from November and 1.9 percentage points higher than a year earlier.

The Organisation for Economic Co-Operation and Development (OECD) area covers the 30 countries including Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Spain, Sweden, Switzerland, Turkey, United Kingdom and United States.