OECD Member Unemployment Up 2.1%

January 12, 2010 Taxation in EUTaxation in UKTaxation in USA

Handing original signed letter of Dominican Republic.The unemployment rate across the 30 countries of Organization for Economic Cooperation and Development (OECD) was 2.1 percent higher in November than one year ago, though the rate remains level with October, 2009.

The OECD released their latest composite of unemployment rates in a report published on January 11th. The publication shows that the unemployment reate in each member country rose in November, 2009 compared to the same period in 2008. Figures within the report show that unemployment amongst the 27 EU members of the OECD rose by 2.0 percent, to 9.5 percent. The rate amongst the 16 Euro Area nations also increased by 2.0 percent, to 10 percent. Unemployment amongst the OECD’s “Major Seven” nations rose to 8.5 percent from 6.5 percent in November, 2008. Compared to October, the European Union and Euro Zone nations both saw a 0.1 percent increase.

Spain reported the highest unemployment rates at 19.4 percent, followed by the Slovak Republic and Ireland, at 13.6 and 12.9 respectively. Korea, Netherlands and Japan had the lowest levels at 3.5, 3.9 and 5.2 percent. The US and Canada had an unemployment figures of 10.0 and 8.5 percent, both nations also had advanced December estimates of unchanged levels. No UK figures were available for October or November.

Photo by OECD Development Centre

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