14/11/2016 - The OECD unemployment rate, at 6.3% in September, has been stable since May 2016. Across the OECD area, 39.5 million people were unemployed, 9.5 million less than at the peak recorded in January 2013, but still 6.8 million more than in April 2008, before the crisis started affecting the labour market.
The unemployment rate in the euro area was at 10.0% in September (stable since July), with the largest falls observed in France (down 0.3 percentage point, to 10.2%), Ireland (down 0.3 percentage point, to 7.9%) and Belgium (down 0.2 percentage point, to 8.0%) and the largest increase recorded in Italy (up by 0.2 percentage point, to 11.7%).
The unemployment rate increased by 0.1 percentage point in the United States (to 5.0%) and Mexico (to 3.9%), and by 0.2 percentage point in Korea (to 4.0%), while it fell by 0.1 percentage point in Japan (to 3.0%) and was stable in Canada (at 7.0%). More recent data show that in October the unemployment rate fell by 0.1 percentage point in the United States (to 4.9%), while it was stable for the second consecutive month in Canada.
The OECD unemployment rate for youth (people aged 15 to 24) continued its decline in September (down 0.1 percentage point, to 12.7%), falling in almost three quarters of all OECD countries. In the euro area,the youth unemployment rate (at 20.3%) declined more rapidly (by 0.3 percentage point), with increases recorded only in Austria and Luxembourg, and with the largest cumulative declines (since January 2013) registered in Greece, Ireland, Portugal, the Slovak Republic and Spain. However, in spite of the recent decreases, more than one active youth in three was unemployed in Italy (37.1%), Spain (42.6%) and Greece (42.7% in July, the latest month available).
Link to underlying data - Source: Labour Force Statistics