11/07/2017 - The OECD unemployment rate was stable at 5.9% in May 2017. Across the OECD area, 36.8 million people were unemployed, 4.1 million more than in April 2008.
The unemployment rate in May was also stable (at 9.3%) in the euro area, although with some variation across countries. The Slovak Republic recorded the largest decline (down by 0.2 percentage point, to 8.1%) while there were small increases in France and Italy (up by 0.1 percentage point, to 9.6% and 11.3%, respectively).
The unemployment rate increased in Japan (by 0.3 percentage point to 3.1%) and Canada (by 0.1 percentage point, to 6.6%). By contrast, it fell by 0.4 percentage point in Korea (to 3.6%) and by 0.1 percentage point in Mexico (to 3.5%) and the United States (to 4.3%). More recent data, however, show that in June, the unemployment rate increased by 0.1 percentage point in the United States (to 4.4%), and decreased by 0.1 percentage point in Canada (to 6.5%).
The OECD youth unemployment rate (covering the 15 to 24 age group) declined by 0.1 percentage point, to 12.0%, in May. It fell by 0.6 percentage point in the United States (to 8.8%) and was stable in the euro area (at 18.9%) but continued to rise in Japan (by 0.2 percentage point, to 5.2%, the third consecutive monthly increase). More than one third of all youth remain unemployed in Greece, Spain and Italy.
Link to underlying data - Source: Labour Force Statistics