Watch FIFA World Cup 2026™

LIVE, FREE and EXCLUSIVE starting June 12 2026

Unemployment rose in rich countries in Feb

Unemployment in rich countries rose in February, the OECD says, largely the result of rises in the US and some eurozone countries.

Unemployment in advanced countries rose slightly in February, the OECD says, a setback after recent falls.

Despite improvement in the general economic outlook for rich countries, the unemployment rate edged up by 0.1 percentage points to 7.6 per cent from the January level, said the OECD.

The increase - the result largely of rises in the US and some eurozone countries - came after three months of falls in the overall rate of unemployment in the 34 countries the OECD covers.

High rates of unemployment remain one of the main legacies of the financial and eurozone debt crises.

The OECD said there were 11.4 million more people unemployed in its member states than when the financial crisis began in July 2008.

News that makes sense

Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

That figure meant that the OECD area, grouping advanced democracies, had managed to reduce the total by 3.8 million since the highest point in April 2010.

But it still left 46 million people qualifying as unemployed, the Organisation for Economic Co-operation and Development said.

In the recovering US, the unemployment rate rose by 0.1 points in February to 6.7 per cent, after falling for three months.

In the eurozone, it edged up in the Netherlands, France and Italy.

But in Spain, where unemployment has surged because of a debt crisis and local property market crash, it edged down 0.2 points to 25.6 per cent.

In South Korea, the rate rose by 0.7 points to 3.9 per cent, but the OECD said this was because an improvement in the outlook for the economy had motivated people to look for work.


2 min read

Published

Source: AAP


Share this with family and friends


Get SBS News straight to your inbox

Sign up now for daily news from Australia and around the world. You can also subscribe to Insight's weekly newsletter for in-depth features and first-person stories.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Follow SBS News

Download our apps

Listen to our podcasts

Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS

SBS World News

Take a global view with Australia's most comprehensive world news service

Stream now

Watch the latest news videos from Australia and across the world