Male employment rate falls in OECD, new data shows

The employment rate for men has continued to fall at a greater level than for women, new data revealed Tuesday.

The Organisation for Economic Co-operation and Development (OECD) unveiled the latest jobs statistics of the 34 countries under the body for the third quarter of 2012.

It said the employment rate dropped by 2.6 percentage points (pp) for men and by 0.5pp for women since the second quarter of 2008.

The results were driven by deviations in labour force participation rates, which over the near-five-year period, fell by 0.7pp for men but rose by 0.9pp for women.

However, women continued to fall behind men in the workforce overall. There were 73.1% men with jobs compared to 57.1% women.

In total the employment rate was 65% for the third quarter of 2012, unchanged from the previous quarter, but up 0.2pp than a year ago and 1.5pp below pre-crisis level.

The Eurozone showed no signs of breaking away from its economic troubles - the employment rate at 63.8% was unchanged from the previous quarter and 0.4pp lower than one year ago.

The US jobs remained steady at 67.1% after increasing over the past four consecutive quarters, while Japan rose 0.3pp to 70.7% after two stable quarters.

In contrast, Canada slid by 0.2pp to 72.1% after two consecutive quarters of increase.

"Adverse economic conditions tend to reduce labour force participation, as discouraged job seekers may withdraw from the labour market and, in the case of youth, postpone entry into the labour market," the OECD said in the report.

"This effect has been pronounced among men, who were most severely hit by unemployment at the beginning of the crisis."

RD