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World – OECD unemployment rate falls to 5.2% in April

13 June 2019

The unemployment rate for the 36 countries that are members of the OECD (Organisation for Economic Co-operation and Development) fell by 0.1%, to 5.2%, in April 2019 when compared to the previous month.

Across the OECD, 33.2 million people were unemployed.

In the euro area, the unemployment rate declined in April by 0.1% for the second consecutive month, to 7.6%, when compared to March. Unemployment remained steady across the European Union.

Outside Europe, the unemployment rate decreased in the US by 0.2% to 3.6%, Canada (by 0.1%, to 5.7%) and Japan (by 0.1%, to 2.4%), while it increased by 0.3% in Korea, to 4.1% in April. At the same time, the unemployment rate was stable at 3.5% in Mexico.

More recent data for May show that the unemployment rate declined further in Canada (by 0.3%, to 5.4%, the lowest level since comparable data became available in 1976) and was stable in the US (at 3.6%).

In April, the OECD unemployment rate for youth (people aged 15 to 24) was stable at 11.1%, with 8.1 million young people unemployed across the OECD.

In the euro area, the youth unemployment rate continued its downward trend in April (down 0.1%, to 15.8%), with decreases by 1.0% or more in Ireland, Latvia and Spain.

Meanwhile, the youth unemployment rate remained above 30% in Italy (31.4%), Spain (32.7%) and Greece (40.4% in March, the latest month available).

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