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World – OECD unemployment rate stable in March

15 May 2019

The unemployment rate for OECD countries (Organisation for Economic Co-operation and Development) stood at 5.3% in March 2019, stable when compared to the previous month.

Across the OECD area, 33.6 million people were unemployed in March 2019, 0.1 million more than in February.

In the euro area, the unemployment rate declined in March by 0.1%, to 7.7% (its lowest level since September 2008).

Outside Europe, the unemployment rate increased by 0.2% in Japan (to 2.5%) and by 0.1% in Korea (to 3.8%) and Mexico (to 3.5%), while it fell by 0.2% in Israel (to 3.9%).

Meanwhile, the unemployment rate was stable in both Canada (at 5.8%) and the US (at 3.8%). More recent data showed that in April 2019 the unemployment rate decreased by 0.2% in the US (to 3.6%, its lowest level since December 1969) and by 0.1% in Canada (to 5.7%).

In March, the difference between OECD unemployment rates for women (at 5.3%) and men (at 5.2%) almost disappeared.

The OECD unemployment rate for youth (aged 15 to 24) decreased by 0.1% to 11.2%, with a fall of 0.4% in the unemployment rate for young women (to 10.5%), contrasting with an increase of 0.2% in the rate for young men (to 11.8%).

In the euro area, the youth unemployment rate declined by 0.2% (to 16.0%), with declines of 0.5% or more in Ireland, Italy, Latvia, Lithuania and Spain and an increase by 0.5% in Luxembourg.

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