Daily News

View All News

World – OECD unemployment rate stable in July

12 September 2019

The Organisation for Economic Co-Operation and Development (OECD) announced that the unemployment rate for its member countries remained stable at 5.2% in July 2019 when compared to the previous month.

Across the OECD area, 33.3 million people were unemployed.

The unemployment rate was also unchanged in the euro area remaining at 7.5% in July.

OCED reported changes of 0.1% or less in most countries.

Outside Europe, the unemployment rate rose by 0.2% in Canada (to 5.7%), the second consecutive monthly increase. It decreased by 0.4% in Israel (to 3.7%, reverting to its level of May).

It was stable in Australia (at 5.2%), Korea (4.0%) and the US (3.7%) and fell marginally in Japan (to 2.2%, the lowest level since October 1992) and Mexico (to 3.5%).

More recent data show that in August, the unemployment rate was stable in both Canada (at 5.7%) and the US (at 3.7%).

The OECD youth unemployment rate (aged 15-24) increased by 0.1% in July (to 11.2%), with a rise of 0.3% in the unemployment rate for young women (to 10.9%), and a 0.1% decline for young men (to 11.5%).

The youth unemployment rate increased by 0.1% in the euro area (to 15.6%) and by 0.4% in the US (to 8.5%, following a decrease of 0.4 percentage point in the previous month).

By contrast, the youth unemployment rate fell by 0.4% in Japan, to 3.4%, the lowest level among OECD countries.

Comments

Add New Comment

Post comment

NOTE: Links will not be clickable.