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22/5/2018  
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EMPLOYMENT
OECDunemployment rate

OECD unemployment rate in December 2017 falls below its pre-crisis level

Source: OECD Labour Force Statistics8204;8204;

The OECD unemployment rate fell by 0.1 percentage point in December 2017, to 5.5%. This is 0.1 percentage point lower than the level just before the financial crisis (April 2008), reflecting an increase in the active population, with the total number of unemployed people, at 34.8 million, still remaining 2.2 million above its pre-crisis level.
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In the euro area, the unemployment rate was stable at 8.7% in December, but declined by 0.3 percentage point in Portugal (to 7.8%) and by 0.2 percentage point in Ireland (to 6.2%), Slovenia (to 6.2%) and Spain (to 16.4%).

Outside the euro area, the unemployment rate fell by 0.3 percentage point in Israel (to 4.0%) and by 0.1 percentage point in Canada (to 5.8%), Korea (to 3.6%) and Mexico (to 3.4%). It was stable in the United States (at 4.1%) and rose by 0.1 percentage point in Australia (to 5.5%)and Japan (to 2.8%). More recent data show that in January, the unemployment rate remained stable in the United States, while it increased by 0.1 percentage point in Canada (to 5.9%).

Between December 2016 and December 2017, the OECD unemployment rate declined by 0.7 percentage point, with significant falls (exceeding 2.0 percentage points) in some euro area countries such as Greece (between October 2016 and October 2017, the latest month available), Portugal and Spain.

The OECD unemployment rate for youth (people aged 15 to 24) also fell in December, by 0.2 percentage point to 11.6%, 1.0 percentage point below its December 2016 level.

Link to underlying data - Source: Labour Force Statistics‌‌


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More than 60 per cent of the worlds employed population are in the informal economy
New project to tackle youth unemployment in the south Mediterranean region
Employment rate of people aged 20 to 64 in the EU reached a new peak at 72.2% in 2017
OECD employment rate increases to 68% in the fourth quarter of 2017
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Employment in EU regions in 2016 Employment grew in 8 out of 10 EU regions
Job vacancy rate at 2.0% in both euro area and EU28
EU Commission adopts proposals for a European Labour Authority and for access to social protection

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