World jobless figures down

UNEMPLOYMENT rates decreased marginally across Organisation for Economic Cooperation and Development (OECD) member countries in August, data out yesterday revealed, having held steady for two consecutive months.

Unemployment dropped 0.1m to 47.8m in August, representing a rate of 7.9 per cent – numbers which have stayed roughly constant since the beginning of 2011.

But differences in unemployment across OECD countries remain considerable. The US rate fell 0.2 per cent, yet joblessness in the euro area climbed for the 13th straight month to hit 11.4 per cent.