Employment, labor force participation rates in OECD nations hold steady at record highs
Date
1/16/2025 7:12:36 AM
(MENAFN) Employment and labor force participation rates across OECD countries remained stable during the third quarter of 2024, sustaining record levels, according to data released on Thursday.
The employment rate reached 70.3 percent, while the labor force participation rate climbed to 74 percent between July and September, marking the highest levels recorded since the organization began tracking these metrics.
Two-thirds of OECD nations reported employment rates above the overall average. However, countries such as Turkey and Italy fell below the average, with Turkey recording the lowest employment rate at 55.2 percent. In contrast, Switzerland, the Netherlands, and Iceland exceeded 80 percent.
Labor force participation rates for individuals aged 15-64 were above the OECD average in most member countries, although Turkey, Mexico, and Italy reported the lowest figures.
Despite participation rates for both men and women reaching record highs, a significant gender gap persists, particularly in Turkey and Mexico, where women’s participation remains considerably lower than men’s.
Unemployment across OECD countries held steady at 4.9 percent in November 2024, continuing a trend of low rates observed since 2022.
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