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OECD unemployment rate drops to 6.2% in July as recovery ramps up

OECD unemployment rate drops to 6.2% in July as recovery ramps up

Brussels, Sep 10 (Prensa Latina) The unemployment rate in Organization for Economic Co-operation and Development (OCDE) countries dropped to 6.2% in July from 6.4% in June, leaving it 0.9% above the pre-pandemic rate seen in February 2020.
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OECD is an international body made up of 38 states, whose objective lies in coordinating their economic and social policies.

Countries with highest unemployment rates in July are Costa Rica (17.2%), Greece (14.6%) and Spain (14.3%). In contrast, Japan and the Czech Republic registered lower levels, with 2.8% in both cases, followed by the Netherlands (3.1%).

Unemployment rate among people under 25 years of age fell four tenths in July (to 12.5%), OCDE reported.

The total number of unemployed workers across the OECD area, which includes eurozone countries as well as the US, Australia, Japan and the UK, fell by 1.6 million in July to reach 41.1 million, as the global economy slowly recovers from the Covid-19 crisis amid a surge in vaccinations.

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