OECD unemployment falls in August

Unemployment among the Organisation for Economic Cooperation and Development (OECD) member states fell slightly to 8.5% in August, down from 8.6% in July.

According to the OECD, the unemployment rate has now returned to August 2009 levels and unemployment appears to be stable across OECD countries.

For further evidence of this it points to the September unemployment rates for America, which at 9.6% was unchanged form its August level, and in Canada, where the rate fell 0.1 percentage point to 8.0%. (article continues below)

At 20.5%, Spain had the highest unemployment rate in August, followed by the Slovak Republic at 14.6% and Ireland at 13.9%.