Unemployment in the member countries of the OECD fell again in October

Unemployment in the member countries of the OECD fell again in October

Unemployment in the member countries of the Organization for Economic Co-operation and Development (OECD) fell again in October, to 7.1 percent from 7.3 percent in September. However, it was still 2 percentage points above the level of February, ie from the period before the COVID-19 pandemic. However, the OECD noted that data on falling unemployment distorted the fact that people on forced leave had returned to work in the United States and Canada. In these countries, they register such workers as unemployed, while in most other countries they are usually still considered employed. In the euro area, unemployment fell only slightly, to 8.4 percent, while it fell by 0.2 percentage points or more in France, Latvia, Luxembourg and Portugal. However, unemployment rose by 0.2 percentage points in Slovakia (to 7%) and Slovenia (to 4.9%). In the United States, October unemployment fell by 1 percentage point to 6.9 percent and remained broadly unchanged in Canada, where it remained at 8.9 percent, and in Japan, where it stagnated at 3.1 percent.