12/05/2016 - The OECD unemployment rate fell by 0.1 percentage point to 6.4% in March 2016, 1.7 percentage point below the January 2013 peak. Across the OECD area, 39.7 million people were unemployed, 9.1 million less than in January 2013, but still 7.2 million more than in April 2008, before the crisis.
In March 2016, the euro area unemployment rate declined by 0.2 percentage point, to 10.2%, its lowest level since August 2011 and 1.9 percentage point below the peak recorded in April 2013. The unemployment rate declined most (by 0.2 percentage point) in France (to 10.0%), Ireland (to 8.6%) and Italy (to 11.4%).
The unemployment rate in March 2016 also fell in Canada (by 0.2 percentage point, to 7.1%), Japan (by 0.1 percentage point, to 3.2%) and Mexico (by 0.1 percentage point, to 4.1%), while it increased by 0.1 percentage point, to 5.0%, in the United States. More recent data show that in April 2016 the unemployment rate was stable in both the United States and Canada.
The OECD unemployment rate declined for most groups in March: men (down 0.1 percentage point, to 6.3%), women (down 0.1 percentage point, to 6.5%) and youth aged 15 to 24 (down 0.1 percentage point, to 13.1%). For people above 25 the unemployment rate remained stable (at 5.6%) but, like for all other groups, the rate has declined significantly since March 2015.
OECD Harmonised Unemployment Rates, s.a.
(1) Compared to February 2016, change in OECD unemployment rate for people above 25 was zero percentage point.
Link to underlying data - Source: Labour Force Statistics