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Daily News

OECD Unemployment Rate Down Slightly in May
Jul 12, 2010
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The unemployment rate for the OECD area fell slightly to 8.6% in May 2010 from 8.7% in April. The general pattern of broad stability continues across most OECD countries (listed below). But the June 2010 rates for Canada, at 7.9%, and the United States, at 9.5%, both fell by 0.2 percentage point from May.

The OECD unemployment rate remains, however, at a level close to post-war highs. The countries with the highest rates across the OECD area in May were Spain (rising to 19.9%), the Slovak Republic (stable at 14.8%), Ireland (rising to 13.3%), Portugal (rising to 10.9%), and Hungary (falling to 10.4%), The overall figure for the Euro area was stable at 10.0%. The lowest rates were recorded in Korea (falling to 3.2%), Austria (falling to 4.0%), and the Netherlands (stable at 4.3%).

The number of unemployed persons in OECD countries, roughly stable since August 2009, stood at 45.9 million in May 2010. This was 1.4 million more than in May 2009 and 14.7 million more than in May 2008.

OECD-Total includes these 31 countries:

• Australia
• Austria
• Belgium
• Canada
• Chile
• 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
• United States

The G7 area covers:
• Canada
• France
• Germany
• Italy
• Japan
• United Kingdom
• United States

The euro area covers:

• Austria
• Belgium
• Finland
• France
• Germany
• Greece
• Italy
• Ireland
• Luxembourg
• the Netherlands
• Portugal
• Spain

The EU15 area covers the euro area plus:

• Denmark
• Sweden
• United Kingdom

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