The Organization for Economic Cooperation and Development (OECD) unemployment rate remained globally stable at 4.8% in July 2023, remaining below 5% for the 13th consecutive month, it was announced this Wednesday.
In a statement released this Wednesday, the OECD states that the unemployment rate increased in 15 of the organization’s countries in July, including Denmark, Lithuania and Austria, remained unchanged in nine, including Portugal, and decreased in another nine. .
In July, the unemployment rate reached or approached record lows in only five countries, including Germany and the United States, says the OECD, adding that the number of unemployed in the OECD rose to 32.9 million in July, but remained close to the minimum reached in April 2023.
The OECD says that in July, the OECD youth unemployment rate (workers aged 15-24) rose to 10.5%, up from 10.3% in June.
Also in relation to the youth unemployment rate, the OECD reports that it increased in 14 countries, with the largest increases observed in Finland, Austria, Denmark, Israel, Mexico and the United States.
Unemployment rates for women and men, as well as for workers aged 25 and older, remained broadly stable, it says.
In the European Union and the euro area, the unemployment rate remained at historic lows, at 5.9% in the European Union and 6.4% in the euro area, and remained stable or increased in all countries. Eurozone countries, except Greece. , Slovenia, Belgium, Ireland and Spain.
The unemployment rate remained well above historic lows in Estonia, Greece, Luxembourg and Spain.
In Portugal, the unemployment rate remained at 6.3% in July, after reaching a historic low of 5.1% in January 2001.
Outside Europe, the unemployment rate increased slightly in Mexico, Australia, Japan, Korea and Canada and decreased in Turkey, Israel and the United States.
The latest data shows that the unemployment rate remained stable in Canada at 5.0% in August and increased in the United States to 3.8%, up from 3.5% in July 2023.
Source: TSF
