Unemployment in the OECD area declined for a fourth month in a row in February, data released by the Organization for Economic Co-operation and Development (OECD) showed Tuesday.
The harmonized unemployment rate decreased to 8.2 percent in February from 8.3 percent in January. The number of unemployed in OECD countries were 44.9 million in February, down 2.1 million from the same month last year.
The February data show, for the first time since the recent financial crisis, a pattern of declining or steady unemployment rates for the majority of OECD countries, the think tank said.
The jobless rate for the major seven economies dropped to 7.7 percent from 7.8 percent, while unemployment in the U.S. fell to 8.9 percent from 9 percent. In the EU27 countries, the jobless rate dropped by 0.1 percentage point to 9.5 percent in February and in the figure for the Euro area dropped to 9.9 percent from 10 percent.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.