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The OECD has had the unemployment rate below 5% for 13 months, with 4.8% in July

Date: May 29, 2024 Time: 18:05:10

The unemployment rate increased to 4.8% in the countries of the Organization for Cooperation and Development (OECD) in the month of July. This represents an increase of one tenth over the data recorded in the previous month, when this rate reached its lowest level in the historical series, that is, since 2001.

Nine OECD countries recorded the same unemployment rate in June and July, while a decrease could be seen in nine and an increase in another 15. Despite the increases, the index has not exceeded the 5% barrier in The last 13 months, touching historical lows in five countries, such as Germany and the United States.

In total, the number of unemployed people in the OECD reached 32,942 million in July, 284,000 more than in the previous month. The international cooperation organization has indicated that the member country with the highest unemployment rate has been Spain, with 11.6%.

One in ten young people does not have a job.

The highest unemployment rates in the OECD in the month of April were observed in Spain, with 11.6%; Greece, with 10.8%; and Türkiye, with 9.4%. On the contrary, the lowest levels of unemployment were in the Czech Republic and Japan, with 2.7% each, ahead of Korea and Poland, both with 2.8%, and Germany, with 2.9%. %.

In the case of unemployment among those under 25 years of age, the rate increased to 10.5% from 10.3% in May and June, the lowest value of this index since 2005. Youth unemployment grew in July in 14 OECD countries and the largest increases were observed in Finland, Austria, Denmark, Israel, Mexico and the United States.

The highest levels of youth unemployment in July corresponded to Spain (27%), ahead of Greece (23.2%) and Italy (22.1%). In contrast, the lowest rates were seen in Japan (3.8%), Germany (5.6%) and South Korea (5.9%).

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

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