11/04/2017 - The OECD unemployment rate was stable at 6.1% in February 2017. Across the OECD area, 38 million people were unemployed, 5.4 million more than in April 2008, before the crisis.
The unemployment rate declined in February by 0.1 percentage point in the euro area, to 9.5%, and was stable or declined in nearly all constituent countries, with the largest falls observed in Latvia (down 0.4 percentage point, to 9.3%), Italy (down 0.3 percentage point, to 11.5%) and Spain (down 0.2 percentage point, to 18.0%).
Outside Europe, the unemployment rate declined the most in Canada (down 0.2 percentage point, to 6.6%) and Japan (down 0.2 percentage point, to 2.8%), and also fell, by 0.1 percentage point, in Mexico (to 3.4%) and the United States (to 4.7%). By contrast, it increased by 0.4 percentage point in Korea (to 4.0%) and by 0.2 percentage point in Australia (to 5.9%). More recent data show that in March the unemployment rate continued to decrease in the United States (by 0.2 percentage point, to 4.5%) while it increased by 0.1 percentage point in Canada (to 6.7%).
The OECD unemployment rate for youth (people aged 15 to 24) fell by 0.2 percentage point in February to 12.3%, but was still 0.3 percentage point above its level of April 2008. In the euro area, the youth unemployment rate declined by 0.4 percentage point, to 19.4%, its lowest level since February 2009, but remained above 30% in Greece (at 45.2% in December, the latest month available), Spain (at 41.5%) and Italy (at 35.2%, despite a strong decline over the last 3 months).
Link to underlying data - Source: Labour Force Statistics