14 Feb 2023 - The OECD unemployment rate was stable at 4.9% in December 2022, the sixth consecutive month at this record low since the start of the series in 2001 (Figure 1, Table 1). This average rate masks wide differences across countries with 9 countries close to record lows in December, including Canada, France, Germany and the United States (Figure 2, Table 1).
In 2022, the number of unemployed workers in the OECD declined to 33.9 million, the lowest annual level since the start of the series (Figure 3). The number of unemployed workers reached record lows in Poland, Slovenia and the United States.
The OECD unemployment rate was stable for both women and men in December 2022, at 5.2% and 4.7% respectively. The same holds for younger workers and workers aged 25 and above (Tables 3 and 4).
In the European Union and the euro area, the unemployment rate remained at record lows of 6.1% and 6.6%, respectively. The unemployment rate was stable or decreased in more than 70% of euro area countries, with the largest decline observed in Austria.
Outside Europe, the unemployment rate fell in Canada and the United States, and was stable in Australia, Japan and Mexico. By contrast, it increased in Colombia, Israel, Korea and Türkiye. More recent data show that in January 2023 the unemployment rate was stable in Canada while it continued to decrease to a new record low of 3.4% in the United States.
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