10 Nov 2022 - The unemployment rate in the OECD was stable in September 2022, at 4.9%, slightly above its lowest point since the start of the series in 2001 (4.8%) recorded in July 2022 (Figure 1, Table 1). This rate was 0.4 percentage point below its pre-pandemic level (Figure 2). The number of unemployed workers in the OECD decreased slightly, to 33 million (Table 2).
The OECD unemployment rate was broadly stable in September for both women and men, at 5.1% and 4.6% respectively, as well as for workers aged 25 and above (Tables 3 and 4). However, the unemployment rate for younger workers slightly increased over the last two months, reaching 10.8% in September.
In the euro area, the unemployment rate decreased slightly, by 0.1 percentage point, to 6.6% in September reaching its lowest level since the start of the series in 1990. The unemployment rate was stable or decreased in 80% of euro area countries, with the largest declines observed in Austria, France, Greece and Lithuania.
Outside Europe, the unemployment rate fell in Canada, Mexico and the United States and was broadly stable in Japan. By contrast, it increased in Israel and Korea. More recent data show that in October 2022, the unemployment rate was stable at 5.2% in Canada while it increased to 3.7% in the United States from 3.5% in September.
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