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[Published: Thursday September 09 2021]

 OECD unemployment rate falls further to 6.2% in July 2021

PARIUS, 09 Sept. - (ANA) - The OECD area unemployment rate fell to 6.2% in July 2021, from 6.4% in June, 0.9 percentage point above the pre-pandemic rate observed in February 2020[1]. Some care is needed in interpreting the fall in the OECD area unemployment rate compared to the April 2020 peak, as it largely reflects the return of temporary laid-off workers in the United States and Canada, where they are recorded as unemployed.[2] The number of unemployed workers across the OECD area fell by 1.6 million in July 2021, reaching 41.1 million.
In the euro area, the unemployment rate declined to 7.6% in July 2021, from 7.8% in June, the third consecutive monthly fall. Declines were observed in almost every euro area country, the largest being in Spain, where it fell by 0.7 percentage point, to 14.3 %.
Outside Europe, decreases of 0.3 percentage point or more were registered in July 2021 in Australia (to 4.6%), Canada (to 7.5%), Colombia (to 13.7%), Korea (to 3.3%) and the United States (to 5.4%). The unemployment rate showed little change in Israel (at 5.0%), Japan (at 2.8%) and Mexico (at 4.2%). More recent data show that the unemployment rate further decreased in August 2021 in the United States, to 5.2%, although the share in labour force of unemployed people on temporary lay-off was broadly stable.   - (ANA) -
AB/ANA/09 September 2021 - - -

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