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The Organisation for Economic Cooperation and Development (OECD) reports that unemployment levels across the 34 OECD member countries in May 2013 was 8%. This figure reflects a 0.1% increase compared with the May 2012, and remains unchanged for the third consecutive month. Overall, there were 48.5 million people unemployment in OECD countries in May 2013, an increase of 100,000 compared with April 2013, and 13.8 million more than in July 2008.
The unemployment rate increased +0.1% in the United States, reaching 7.6%. It fell by -0.1% in both Canada and Mexico, dropping to 7.1% and 5.1% respectively. More recent data indicates that the unemployment rate has remained steady in both the United States and Canada throughout June. Unemployment levels in Japan also remained steady at 4.1%.
The marginal fluctuations in the above countries were offset by unemployment across the Euro-zone reaching a new record level, rising by +0.1%, to reach 12.2% in May. The gap with the OECD average has widened considerably since the beginning of the global financial crisis, reaching more than 4% in May, compared with 1.7% difference in July 2008.
In May, the OECD unemployment rate for men remained unchanged at 8%, -0.9% below its peak in October 2009. By contrast, the OECD unemployment rate for women dropped -0.1% to 8%, which is only 0.2% below its peak of 8.2% in December 2012. In May 2013, the unemployment rates for men and women were +2.1% and +2% above their pre-crisis levels in July 2008, respectively.
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