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Unemployment rate rises in November

Unemployment rate in the OECD area rose to 6.5%, as deepening recession across the world tainted corporate profit, resulting into a massive workforce cut.  

The unemployment rate for the OECD area was 6.5% in November 2008, 0.1% higher than the previous month and 0.8% higher than a year earlier. In the euro area, the unemployment rate was 7.8% in November 2008, up 0.1% than the previous month and 0.6% higher than a year earlier.

For the US the unemployment rate for December 2008 was 7.2%, up 0.4% than the previous month and 2.3% higher than a year earlier. For Japan, the rate was 4.0% in November 2008, 0.3% higher than the previous month and 0.2% higher than in November 2007. For Canada, the unemployment rate was 6.6% in December 2008, 0.3% higher the previous month and 0.6% higher than a year earlier.

In November 2008, the unemployment rate for France was 7.9%, 0.1 percentage point higher than the previous month and 0.1 percentage point higher than a year earlier. For Germany, the rate was 7.1% in November 2008, the same as the previous month and 0.9 percentage point lower than in November 2007. (The Economic Times)