OECD unemployment rate flat

Unemployment in the Organization for Economic Cooperation and Development (OECD) area stabilised in September, remaining unchanged…

Unemployment in the Organization for Economic Cooperation and Development (OECD) area stabilised in September, remaining unchanged from the previous month.

According to harmonised unemployment figures, the percentage of people out of work in the 30-country area during September was 8.6 per cent, up 2.3 per cent on the same month a year earlier but flat compared to August.

The OECD includes territories such as the US, Australia, Japan, Canada, New Zealand and European countries.

Ireland's unemployment rate was one of the highest in the euro area with 13 per cent of people out of work, a figure that was only eclipsed by Spain with 19.3 per cent unemployment.

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In the Euro zone, the unemployment rate was 9.7 per cent in September, 0.1 per cent higher than the previous month and up 2 per cent year-on-year.

For the US, the unemployment rate for October 2009 was 10.2 per cent, a rise of 0.4 per cent on September and up 3.6 per cent compared to the same month a year earlier.

In Japan, the world's second biggest economy, the unemployment rate reached 5.3 per cent in September, a decline of 0.2 per cent compared to the previous month but up 1.3 per cent on September 2008.

Charlie Taylor

Charlie Taylor

Charlie Taylor is a former Irish Times business journalist