The OECD unemployment rate remained at 4.8% in August, its historical low

MADRID, 12 Oct.

The OECD unemployment rate remained at 4.8% in August, its historical low


The unemployment rate of the member countries of the Organization for Economic Cooperation and Development (OECD) remained at its historical minimum in August, with 4.8%, according to the 'Situation of the Labor Market' report prepared by the organism.

In this way, the unemployment rate increased in five member countries of the multilateral entity - Sweden, the United States, Colombia, Estonia and Luxembourg -, remained unchanged in 14 and decreased in 13 between April and June. Thus, the number of unemployed in the bloc reached 33.160 million people in the eighth month of the year.

Likewise, the unemployment rate in the European Union closed at 5.9% and that of the euro zone at 6.4% in August, also its historical low. Regarding Spain, unemployment fell to 11.5%.

Regarding youth unemployment - workers between 15 and 24 years old - it increased by 0.5 percentage points compared to its lowest rate recorded in April 2023, driven mainly by an increase in the male youth unemployment rate .

On the other hand, OECD employment and active participation rates reached 70.1% and 73.7%, respectively, in the second quarter of the year, the highest levels recorded since the beginning of the series. Thus, historical highs were recorded for both indicators in 19 of the bloc's 38 member countries, including France, Germany, Italy and Japan.

Based on disaggregated data, the employment rate exceeded 70% in just over two-thirds of OECD countries, reaching historical highs in the euro zone and in the European Union as a whole.

On the contrary, it decreased in seven OECD countries, including Turkey, which recorded the lowest employment rate among the organization's member countries, at 53.6%.

By sex, it increased for both women and men, reaching historical highs of 63.2% and 77%, respectively. The activity rate also reached its highest level for women (66.7%) and for men (80.9%).