OECD unemployment rate holds steady at 4.9 percent in October, youth unemployment remains high in some nations

2024-12-14 05:17:24

(MENAFN)
The unemployment rate across the Organization for Economic Cooperation and Development (OECD) area remained unchanged at 4.9 percent in October, marking the third consecutive month at this level, according to data released on Wednesday.

The total number of unemployed individuals in OECD countries increased slightly by 131,000 compared to the previous month, reaching a total of 34.1 million. The report highlighted that five OECD countries reported unemployment rates below 3.0 percent, while Colombia and Spain had the highest rates, with 10.1 percent and 11.2 percent, respectively.

Gender-wise, unemployment rates for both women and men were largely stable in October, standing at 5.1 percent for women and 4.8 percent for men. The youth unemployment rate, which tracks individuals aged 15-24, remained constant at 11.3 percent. However, in nine OECD countries, the youth unemployment rate surpassed 20 percent.

Japan and Israel stood out for having the lowest youth unemployment rates, with figures at or below 4.0 percent.

MENAFN14122024000045016755ID1108992614

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.