OECD unemployment rate remains stable in MayStaff Writer | July 11, 2017
The unemployment rate in the Organization for Economic Cooperation and Development area remained stable in May, data showed Tuesday.
Jobs Across the OECD area
Across the OECD area, 36.8 million people were unemployed, 4.1 million more than in April 2008.
In the euro area, the unemployment rate held steady at 9.3%. The rate increased in Japan and Canada, to 3.1% and 6.6%, respectively.
Meanwhile, the US jobless rate fell slightly to 4.3% from 4.4%.
The OECD youth unemployment rate that applies to 15-24 age group dropped 0.1 percentage point to 12% in May. It fell by 0.6 percentage point to 8.8% in the US and was stable in the euro area at 18.9%.
More than one third of all youth remain unemployed in Greece, Spain and Italy. ■