Unemployment in OECDThis is news that brings a mixture of relief and hope to global economies. In April, the unemployment rate in the Organisation for Economic Co-operation and Development (OECD) countries remained stable at 4.9%, a figure that has been repeated for the sixth consecutive month and is very close to the historic low of 4.8% recorded in June 2023. This figure shows a positive trend and offers a glimpse of economic stability in a global scenario still marked by many uncertainties.

Stability in Numbers

Figures released by the OECD show that in April the unemployment rate remained unchanged in 25 member countries. This stability indicates that the economic policies and recovery measures implemented are having an effect, preventing significant increases in unemployment. In addition, the unemployment rate fell in four countries - Colombia, Austria, Czechia and Italy - and rose in only three, not specified in the report.

Performance by Region

In regional terms, five countries registered an unemployment rate of less than or equal to 3%, including Japan, Mexico, Czechia and Korea. This figure is particularly encouraging, as it reflects economies that have managed not only to maintain stability, but also to achieve extremely low levels of unemployment. On the other hand, Colombia, Greece and Spain continue to face significant challenges, with unemployment rates above 10%.

European Union and Eurozone

The European Union and the eurozone also showed positive results, maintaining unemployment rates at historic lows of 6% and 6.4%, respectively. The majority of OECD countries in the euro area were stable, with the exception of Ireland, which saw an increase, and Austria and Italy, which saw decreases. These figures suggest, of course, that the economic recovery in Europe continues to progress, despite some obstacles.

Unemployment by Demographic Group

Analysing by demographic group, unemployment in the OECD is almost at historic lows, with an unemployment rate of 5.1% for men and 4.7% for women, showing a slight gender balance. However, the youth unemployment rate (15-24 year olds) remains a concern, standing above 20% in nine countries. Countries such as Ireland, Lithuania, New Zealand and Norway have seen a significant increase, highlighting the need for targeted youth policies.

Final perspectives

In conclusion, unemployment in the OECD at almost historic lows reflects an economic scenario of resilience and recovery. However, there are still significant challenges that need to be addressed, especially with regard to youth unemployment and economies with higher unemployment rates.

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