Global unemployment down to 7%

13 Apr 15

Global unemployment fell by 0.1 percentage points to 7% in February this year, according to the Organisation for Economic Co-operation and Development’s latest snapshot.

Across the OECD area, 42.9 million people were unemployed in February, compared to 43.2 million in January, the economic think-tank’s figures show.

The unemployment rate fell in the eurozone by 0.1 percentage point to 11.3%, taking the number of unemployed people to 18.2.

Unemployment increased in Finland, Portugal and Italy, the figures showed.

The OECD said youth unemployment remained exceptionally high in several eurozone countries such as Greece (51.2% in December, the latest month available), Italy (42.6%), Portugal (35.0%) and Spain (50.7%).

In the US, the unemployment rate fell by 0.2 percentage point from 5.7% to 5.5%, its lowest level since May 2008, but it increased in Canada by 0.2 percentage point to 6.8%.

Figures for Japan show a fall in the unemployment rate by 0.1 percentage point to 3.5%.

  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Public Finance International and Public Finance. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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