14/06/2018 - The OECD unemployment rate fell by 0.1 percentage point to 5.3% in April 2018 after two consecutive months of stability. Across the OECD area, 33.9 million people were unemployed, 1.2 million more than in April 2008, but 15.2 million less than in the January 2013 peak.
In the euro area, the unemployment rate declined in April by 0.1 percentage point, to 8.5% (its lowest level since December 2008), with rates declining by 0.2 percentage point in Latvia (to 7.4%) and Spain (to 15.9%).
Outside the euro area, the unemployment rate fell by 0.2 percentage point in Korea (to 3.8%) and the United States (to 3.9%), remained stable in Canada (at 5.8%) and Japan (at 2.5%), while it increased by 0.3 percentage point in Denmark (to 5.2%) and Israel (to 3.9%), and by 0.2 percentage point in Mexico (to 3.4%). More recent data show that in May the unemployment rate declined further in the United States (by 0.1 percentage point, to 3.8%), while it was unchanged in Canada.
The OECD unemployment rate for youth (people aged 15 to 24) fell by 0.1 percentage point, to 10.9% in April, with declines for young women (by 0.3 percentage point, to 10.4%) more than offsetting a slight increase for young men (by 0.1 percentage point, to 11.4%). Since the same month in 2017, the OECD unemployment rate for youth has declined more rapidly than that for people aged 25 and above, although it still remains more than twice as large.
Link to underlying data - Source: Labour Force Statistics