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OECD unemployment rate remains stable at 4.9% in April

The unemployment rate in the OECD remained stable in April, at 4.9%, for the sixth consecutive month, very close to the historical minimum of 4.8% in the series started in 2001, reached in June 2023.

For two years now, the unemployment rate in Organization for Economic Co-operation and Development (OECD) countries has stood, on average, at 5% or less.

According to data released today by the organization, in April the unemployment rate remained unchanged in 25 member countries, decreasing in four – Colombia, Austria, Czech Republic and Italy – and increasing in three .

Five countries recorded a rate below or equal to 3%, including Japan, Mexico, Czechia and Korea, while in Colombia, Greece and Spain unemployment was above 10%.

In absolute terms, the number of unemployed people in the OECD decreased slightly in April, to a total of 34.1 million, remaining stable or decreasing in 18 countries, with the biggest drop registered in Colombia.

In the European Union and the euro zone, the unemployment rate remained at historic lows of 6% and 6.4%, respectively, having remained stable in most OECD countries in the euro area. Only Ireland showed an increase, while Austria and Italy recorded decreases.

Outside Europe, unemployment rates in April remained stable or increased in all OECD countries except Colombia. In Canada and the United States they remained broadly stable in May, at 6.2% and 4%, respectively.

In April, the OECD unemployment rate remained broadly stable for men and women, standing at 5.1% and 4.7%, respectively.

The unemployment rate for young people (15-24 years old) remained high, above 20%, in nine OECD countries in April (or in the last available period). Some countries, such as Ireland, Lithuania, New Zealand and Norway, recorded a sharp increase of more than one percentage point.

Source

Francesco Giganti

Journalist, social media, blogger and pop culture obsessive in newshubpro

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