OECD unemployment rate 8.7%

Ireland has the third highest rate of unemployment in the OECD, according to new data published today.

Spain currently has the highest unemployment rate in the 32-country body at 19.1 per cent, followed by Slovakia at 14.1 per cent, Ireland at 13.2 per cent and Hungary at 11 per cent.

The lowest unemployment rates in the OECD during March were recorded in Korea, the Netherlands, Mexico and Austria.

According to the latest figures, the number of unemployed people in the OECD stood at 46.1 million in March, a rise of 3.9 million on the same month a year earlier.

The unemployment rate for the OECD area was broadly stable in March at 8.7 per cent, just 0.1 per cent higher than in February.

OECD countries agreed yesterday to invite Estonia, Israel and Slovenia to become members of the organisation, paving the way for the Organisation’s membership to grow to 34 countries.

The Organisation for Economic Co-operation and Development (OECD) area covers Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom and United States.

Meanwhile, new CSO figures published today show the number of people on the Live Register decreased slightly last month.

On an unadjusted basis, there were 2,464 fewer people on the Live Register in April than in March with the largest decreases recorded in the West and south-west regions.

Among counties, the largest percentage increases in the Live Register in April 2010 were in Monaghan and Kilkenny with the biggest decrese recorded in Co Kerry.

In the year to April 2010, the unadjusted Live Register rose by 50,781 people, equivalent to a 13.3 per cent increase.

All geographical regions showed a rise in Live Register figures over the 12 months under review with the largest percentage increases in the mid-west region and the smallest in the midlands.

In April there were 354,266 Irish nationals and 78,391 non-Irish nationals on the Live Register. This represents a monthly decrease of 814 in Irish nationals and a decrease of 1,650 in non-Irish nationals.

In the year to April 2010 the number of Irish nationals on the Live Register increased by 49,676 or 16.3 per cent, and by 1,105 or 1.4 per cent for non-Irish nationals.

The Live Register is not designed to measure unemployment. It includes part-time workers, seasonal and casual workers entitled to Jobseekers Benefit or Allowance.