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Europe unemployment rate down to 8% in February


The unemployment rate fell to 8 percent in February 2013 against 8.1 percent of the previous month in the area of the Organisation for Economic Cooperation and Development (OECD), according to figures released by the organization Thursday. Overall, the jobless population in the OECD area were recorded at 48.7 million in February 2013, 0.2 million less than that in January, but 13.9 million more than in July 2008, according to data provided by the OECD.

Europe is still plagued by the unemployment issue, with a rate of 10.9 percent in the European Union and 12 percent in the euro area. The unemployment rate in the euro area was still 1.1 percentage point higher than its peak in the mid-90s, to stand at 12 percent in February.

Unemployment reached a new peak in February in several European countries, with France and Spain amounting to 10.8 percent and 26.3 percent respectively. Conversely, the unemployment rate remains below the threshold of 5.5 percent in Japan, South Korea, Australia, Austria, Iceland and Germany.

Philippines News agency