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 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

Recommended

Get healthy returns from these three healthcare stocks
Share tips

Get healthy returns from these three healthcare stocks

Professional investor Paul Major of the BB Healthcare Trust highlights three of his favourite healthcare stocks.
25 Oct 2021
Share tips of the week – 22 October
Share tips

Share tips of the week – 22 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
22 Oct 2021
Three dividend stocks from the dynamic Asia/Pacific region
Share tips

Three dividend stocks from the dynamic Asia/Pacific region

Professional investor Sat Duhra of the Henderson Far East Income investment trust highlights three of his favourite stocks.
18 Oct 2021
Share tips of the week – 15 October
Share tips

Share tips of the week – 15 October

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
15 Oct 2021

Most Popular

Properties for sale for around £1m
Houses for sale

Properties for sale for around £1m

From a stone-built farmhouse in the Snowdonia National Park, to a Victorian terraced house close to London’s Regent’s Canal, eight of the best propert…
15 Oct 2021
How to invest as we move to a hydrogen economy
Energy

How to invest as we move to a hydrogen economy

The government has started to roll out its plans for switching us over from fossil fuels to hydrogen and renewable energy. Should investors buy in? St…
8 Oct 2021
Emerging markets: the Brics never lived up to their promise – but is now the time to buy?
Emerging markets

Emerging markets: the Brics never lived up to their promise – but is now the time to buy?

Twenty years ago hopes were high for Brazil, Russia, India and China – the “Brics” emerging-market economies. But only China has beaten expectations. …
18 Oct 2021