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In focus

Unemployment rates

The OECD unemployment rate was stable at 4.8% in December 2023

In 2023, the number of unemployed persons in the OECD continued to decline for the third consecutive year, reaching 33.2 million, the lowest annual level since 2001. In the European Union and the euro area, the unemployment rate remained at record lows of 5.9% and 6.4%, respectively.

In December 2023, the OECD unemployment rates for women and men were broadly stable, at 5.0% and 4.7%, respectively. The same holds for younger workers (aged 15-24) and those aged 25 and above. The youth unemployment rate recorded the largest increases in Austria, Czechia, Iceland, and Sweden. Youth unemployment rates close to or above 20% were recorded in 10 OECD countries.

Outside the European OECD countries, unemployment rates in December 2023 were stable or increased. The largest rises were recorded in Colombia and Korea.

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The global economy proved surprisingly resilient in 2023, but growth is now moderating due to the effects of policy action needed to reduce inflation and a slowing of the Chinese economy. Discover the latest OECD projections for the global economy.

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Should 2-6-year-olds be allowed to use digital tech? How much screen time is ok? How can digital tech improve early childhood education? This episode of Top Class explores the latest research on the use of digital tech in creches, nurseries and kindergartens.

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With the right investment, the path to net zero will be a net positive. But many of the regions needing to do the “heavier lifting” to reach climate neutrality are those with the least resources. A just transition will require national policy makers to target and support these places before it is too late. 

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