11/10/2016 - The OECD unemployment rate was stable at 6.3% in August 2016. Across the OECD area, 39.4 million people were unemployed, 9.5 million less than in January 2013 peak, but still 6.8 million more than in April 2008, before the crisis started affecting the labour market.
In the euro area, the unemployment rate in August was 10.1%, unchanged since April 2016. Within the euro area, the unemployment rate changed the most in Latvia and the Netherlands (where it fell by 0.2 percentage point, to 9.3% and 5.8%, respectively) and France (where it increased by 0.2 percentage point, to 10.5%, the third consecutive monthly increase).
The unemployment rate was also stable in the United States (at 4.9% for the third consecutive month) and Mexico (at 3.8%), while it increased by 0.1 percentage point in Japan (to 3.1%) and Canada (to 7.0%). More recent data show that in September the unemployment rate increased by 0.1 percentage point in the United States (to 5.0%), while it was stable in Canada.
The OECD unemployment rate for youth (people aged 15 to 24) decreased by 0.2 percentage point (to 12.9%) in August 2016, thus continuing its decline since early 2013. In the euro area, the youth unemployment rate also decreased further, reaching in August its lowest level, at 20.7%, since June 2009. However, youth unemployment is still exceptionally high in Greece (at 47.7% in June, the latest month available), Spain (43.2%) and Italy (38.8%).
Link to underlying data - Source: Labour Force Statistics