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Spain continues to lead unemployment in the OECD and is the furthest from its historical minimum

Date: October 1, 2023 Time: 15:15:47

Spain continues to be the country with the highest unemployment rate in the OECD, known as the ‘club of rich countries’, despite the fact that unemployment fell in February (two tenths to 12.8%). It is also the one that remains the furthest, by far, from its minimum since the beginning of the historical series in 2001.

The Organization for Economic Cooperation and Development (OECD) has specified in a statement that the unemployment rate for all of its 30 members remained stable in February at 4.8%, which is the lowest level since the start of its statistics. in 2001. Specifically, in the second month of the year unemployment

it fell or remained stable in more than 70% of those countries and Spain was among them as the unemployment rate dropped by two tenths to 12.8%. It is also the furthest from the lowest level recorded in May 2007, when unemployment was at 7.8% (a difference of 4.9 percentage points).

After Spain, the one with the highest rate was Costa Rica (11.8% in December, the latest available statistics), Greece (11.4%, after rising 1.1 points in just one month) and Colombia (10.6% , nine tenths less than in January). Regarding the distance in relation to its historical minimum in February, they were Greece (3.9 points compared to the 7.5% it had in May 2008), Costa Rica (3.5 points compared to the 8.3% of September 2010 ) and Chile (3 points compared to 5.6% in July 2013).

In February, there were six OECD members that recorded their lowest rates in the series beginning in 2001: Canada (5%), France (7%), Germany (2.9%), South Korea (2.6%) and Slovenia. (3.2%), as well as the euro area (6.6%). Others were also very close, such as the United States (3.6% in February, compared to 3.4% in January of the same year).

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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