15/05/2018 - The OECD unemployment rate remained stable at 5.4% in March 2018. Across the OECD area, 34 million people were unemployed, 1.4 million more than in April 2008, but 15.1 million below the January 2013 peak.
The unemployment rate was also stable (at 8.5%) in the euro area in March and was stable or fell in all euro area economies. The largest declines (by 0.2 percentage point) were in the Netherlands (to 3.9%) and Portugal (to 7.4%).
The unemployment rate was also stable in Canada (at 5.8%), Japan (at 2.5%) and the United States (at 4.1%). It decreased by 0.2 percentage point in Israel (to 3.6%) and by 0.1 percentage point in Mexico (to 3.2%) but increased by 0.4 percentage point in Korea (to 4.0%). More recent data show that in April, the unemployment rate declined by 0.2 percentage point in the United States, to 3.9%, the lowest level since December 2000, while it remained stable in Canada.
The OECD unemployment rate for youth (people aged 15 to 24) decreased by 0.1 percentage point, to 11.1% in March. In the euro area,the youth unemployment rate declined by 0.2 percentage point, to 17.3%, its lowest level since October 2008. Youth unemployment rates fell significantly in March in Italy (down 0.8 percentage point, to 31.7%) and Spain (down 0.7 percentage point, to 35.0%) and also fell significantly in Greece (down 1.2 percentage points, to 42.3% in January, the latest month available) but remain high in the three countries.
Link to underlying data - Source: Labour Force Statistics