OECD unemployment rate stable at 6.6 % in November 2015

OECD unemployment rate stable at 6.6 % in November 2015

The OECD unemployment rate was stable at 6.6 % in November 2015, 1.5 percentage points below the January 2013 peak. Across the OECD area, 40.4 million people were unemployed, 8.5 million less than in January 2013, but still 5.9 million more than in July 2008, immediately before the crisis

OECD Unemployment Nov.

In November, the euro area unemployment rate declined by 0.1 percentage point, to 10.5%, the third consecutive monthly decline and the lowest level since October 2011. The largest monthly falls in unemployment rates were observed in the Slovak Republic (down 0.3 percentage point, to 10.8 %), Italy (down 0.2 percentage point, to 11.3 %) and France (down 0.2 percentage point, to 10.1 %). Compared to one year ago, the unemployment rates declined by more than one percentage point in Greece, Ireland, Italy, Portugal, the Slovak Republic and Spain; with the exception of Ireland, these are the euro area countries with the highest unemployment rates.

The unemployment rate increased in November in Japan (by 0.2 percentage point to 3.3 %) and Canada (by 0.1 percentage point to 7.1 %), while it was stable in the United States (at 5.0 %) and declined by 0.3 percentage point in Mexico (to 4.1 %). More recent data show that in December 2015, the unemployment rate was stable in both Canada and the United States.

The OECD youth (15-24 year-old) unemployment rate fell slightly in November 2015 (by 0.1 percentage point) to 13.5 %, its lowest level since October 2008.


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