In October this year, the unemployment rate of the 34 Organization for Economic Co-operation and Development (OECD) member countries declined by 0.1 percentage point month on month to 6.6 percent, with a cumulative decline of 1.5 percentage points since the peak reached in January 2013, according to new figures published by the OECD. The number of unemployed in the OECD region in October was 40.6 million persons, 8.3 million less than in January 2013, but still 6.1 million more than in July 2008, immediately before the global financial crisis.
In October, on month-on-month basis, the unemployment rate for the euro area declined by 0.1 percentage point to 10.7 percent. In the given month, the unemployment rate in the US decreased by 0.1 percentage point to five percent, declined by 0.3 percentage points in Japan to 3.1 percent and fell by 0.1 percentage point in Canada to seven percent, all compared to September.