OECD unemployment rises in August

Unemployment in the Organization for Economic Cooperation and Development (OECD) area continued to rise in August, new data has…

Unemployment in the Organization for Economic Cooperation and Development (OECD) area continued to rise in August, new data has revealed.

According to harmonised unemployment figures, the percentage of people out of work in the 30-country area rose to 8.6 per cent during the month, up 2.3 per cent on the same period a year earlier. 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, rising 6.2 per cent year on year to 12.5 per cent for the August, a figure that was only eclipsed by Spain at 18.9 per cent. On a monthly basis, unemployment increased 0.2 per cent compared with July 2009.

Jobless figures in the UK inched up 0.1 per cent on a monthly basis to 7.8 per cent year on year, and 2.4 per cent higher than in June 2008.

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The rate for the euro area, meanwhile, rose 2 per cent to 9.6 per cent, while unemployment in the European Union reached 9.1 per cent in August, a rise of 2.1 per cent year on year.