OECD Unemployment Rate Hovering at 8.2% in July

The Organisation for Economic Co-operation and Development (OECD) released its report on unemployment in OECD countries today.

The unemployment rate for the entire OECD area was  unchanged for the fifth consecutive month at 8.2% in July 2011. The Euro area unemployment rate was unchanged at 10.0% for the second consecutive month and has hovered around this level since December 2010.

Between June and July unemployment rates for OECD countries displayed very little movement. The single highest rise was for Luxembourg (up 0.3 percentage points to 4.6%) while the greatest fall was in Mexico (down 0.5 percentage points at 5.3%). New August 2011 data for the United States (unchanged at 9.1%) and Canada (up by 0.1 percentage point to 7.3%) confirm this current picture of broad stability in unemployment rates.

Countries where high unemployment rates continue to persist include Ireland (14.5%), Portugal (12.3%), the Slovak Republic (13.4%) and Spain (21.2%).

Around 44.5 million people were unemployed across the OECD area in July 2011, down 2.0 million from July 2010 but still 11.4 million higher than in July 2008.

OECD Unemployment July

 

OECD Unemployment Rates, s.a.

Percentage of labour force

2008 2009 2010 2010 2011 2011
Q3 Q4 Q1 Q2 Feb Mar Apr May Jun Jul
OECD – Total 6.1 8.4 8.6 8.6 8.5 8.2 8.2 8.2 8.2 8.2 8.2 8.2 8.2
Major Seven 5.9 8.1 8.2 8.1 8.1 7.7 7.7 7.7 7.7 7.7 7.7 7.8 7.8
European Union 7.1 9 9.7 9.6 9.6 9.5 9.5 9.5 9.4 9.4 9.5 9.5 9.5
Euro area 7.7 9.6 10.1 10.1 10.1 10 10 10 10 9.9 10 10 10
Australia 4.2 5.6 5.2 5.2 5.2 5 4.9 5 4.9 4.9 4.9 4.9 5.1
Austria 3.8 4.8 4.4 4.4 4.2 4.4 4.1 4.5 4.3 4.1 4.2 3.9 3.7
Belgium 7 7.9 8.3 8.3 7.9 7.2 7.3 7.1 7.1 7.2 7.4 7.4 7.5
Canada(1) 6.1 8.3 8 8 7.7 7.7 7.5 7.8 7.7 7.6 7.4 7.4 7.2
Chile 7.8 10.8 8.2 8 7.1 7.3 7.2 7.3 7 7.2 7.2 7.5
Czech Republic 4.4 6.7 7.3 7.1 7.1 6.9 6.5 6.9 6.7 6.6 6.5 6.5 6.4
Denmark 3.4 6.1 7.4 7.4 7.7 7.6 7.3 7.6 7.6 7.3 7.4 7.3 7.1
Estonia 5.6 13.8 16.8 16.1 14.5 13.6 12.8 13.6 13.6 12.8 12.8 12.8
Finland 6.4 8.2 8.4 8.3 8.1 8 7.9 8 8 7.9 7.9 7.9 7.9
France 7.8 9.5 9.8 9.8 9.7 9.7 9.7 9.7 9.7 9.7 9.7 9.8 9.9
Germany 7.6 7.7 7.1 6.9 6.6 6.4 6.2 6.4 6.3 6.2 6.2 6.1 6.1
Greece 7.7 9.5 12.6 13 14.1 15 15 15
Hungary 7.8 10 11.2 11.1 11 11 10.1 10.9 10.6 10.3 10 9.9 9.7
Iceland 3 7.2 7.5 7.8 8.5 7.4 6.7
Ireland 6.4 11.8 13.7 13.8 14.3 14.2 14.2 14.2 14.1 14.1 14.1 14.3 14.5
Israel(3) 6.1 7.5 6.7 6.6 6.5 6 5.5
Italy 6.8 7.8 8.4 8.3 8.3 8.1 8 8.1 8.1 8 8.1 8 8
Japan 4 5.1 5.1 5 5 4.7 4.6 4.6 4.6 4.7 4.5 4.6 4.7
Korea 3.2 3.6 3.7 3.6 3.4 3.9 3.4 4 4 3.6 3.3 3.3 3.3
Luxembourg 4.9 5.1 4.5 4.4 4.5 4.3 4.3 4.2 4.3 4.3 4.3 4.3 4.6
Mexico 4 5.5 5.4 5.2 5.4 5.1 5.5 5.2 5 5.2 5.5 5.8 5.3
Netherlands 3.1 3.7 4.5 4.5 4.4 4.3 4.2 4.3 4.2 4.2 4.2 4.1 4.3
New Zealand 4.2 6.1 6.5 6.4 6.7 6.5 6.5
Norway 2.5 3.1 3.5 3.5 3.5 3.2 3.3 3.2 3.2 3.4 3.3 3.3
Poland 7.2 8.2 9.6 9.5 9.6 9.4 9.5 9.3 9.4 9.5 9.5 9.5 9.4
Portugal 8.5 10.6 12 12.2 12.3 12.4 12.6 12.4 12.5 12.6 12.6 12.5 12.3
Slovak Republic 9.5 12 14.4 14.3 14 13.5 13.4 13.5 13.4 13.4 13.4 13.4 13.4
Slovenia 4.4 5.9 7.3 7.3 7.8 8.1 8.3 8.1 8.2 8.3 8.3 8.4 8.4
Spain 11.4 18 20.1 20.5 20.5 20.6 20.8 20.6 20.7 20.7 20.8 21 21.2
Sweden 6.2 8.3 8.4 8.3 7.9 7.7 7.5 7.6 7.7 7.4 7.7 7.4 7.4
Switzerland 3.2 4.1 4.2 4.5 3.9 3.9
Turkey 9.7 12.5 10.6 10.5 9.9 9.3 9.2 9.1 9.1 9.3
United Kingdom 5.6 7.6 7.8 7.7 7.8 7.7 7.7 7.6 7.7 7.8
United States (2) 5.8 9.3 9.6 9.6 9.6 8.9 9.1 8.9 8.8 9 9.1 9.2 9.1

 

 

Can't find what you are looking for? Search our site below:

Custom Search

Today’s Headline

Vision

Lessons in Funding for Entrepreneurs

Today's entrepreneurs need to understand all aspects of their industry in order for their business to thrive. This includes financial funding as well as how to … [Read More...]

Latest Unemployment News

BLS_vs_Gallup_Unemployment_2_Jul2015a

Is the Government Fudging Unemployment Numbers?

What is the True Unemployment Rate? Comparing Bureau of Labor Statistics numbers to an Independent Source There has been a lot of talk about the validity of the government generated unemployment … [Read More...]

Employment-2000-Jun-2015

June Unemployment Data

The U.S. Bureau of Labor Statistics (BLS) released the newest unemployment data for June 2015 on the first Thursday of July (rather than Friday due to the holiday).  According to the BLS, the current … [Read More...]

unemployment_rate_May_2015

May Unemployment Data

The U.S. Bureau of Labor Statistics (BLS) released the newest unemployment data for May 2015 on Friday June 5th. According to the BLS, the current “Seasonally Adjusted” Unemployment Rate for May is 5.5% up from … [Read More...]

More Posts from this Category

About Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+

Speak Your Mind

*