In a statement released today, the Organization for Economic Co-operation and Development (OECD) said the unemployment rate remained stable in 12 of the 38 OECD countries, but close to the minimum level in only seven countries, including Canada, France, Germany and the United States.

The number of unemployed fell to 33.2 million, remaining close to the historic low reached in July 2022.

In the European Union and the euro zone, the unemployment rate remained stable, close to the lowest levels, at 6.1% and 6.7%, respectively.

On the other hand, Portugal and Lithuania recorded “strong increases”, of 0.3 percentage points, according to the organization.

In Portugal, the unemployment rate, which stood at a low of 5.1% in January 2001, rose from 6.8% in December to 7.1% in January this year.

The unemployment rate remained stable or fell in half of the euro area countries, with the largest drop observed in Greece, where the unemployment rate reached the lowest level since December 2009, resuming the downward trajectory observed since January from 2022.

Outside Europe, the unemployment rate fell in Korea and Turkey, and remained broadly stable in the other non-European OECD countries.

On the contrary, it increased in Australia and New Zealand.

More recent data shows that in February 2023, the unemployment rate rose to 3.6% in the United States, while it remained unchanged for the third consecutive month at 5.0% in Canada.

In January 2023, the unemployment rate for women fell slightly from 5.2% to 5.1%, now 0.5 percentage points above the rate for men, which remained broadly stable.

However, the overall gender gap across the OECD as a whole masks large differences between countries.

Compared to men, the unemployment rate for women was higher in 18 OECD countries, with the largest gender gaps recorded in Colombia, Costa Rica, Greece, Spain and Turkey.

In contrast, female unemployment rates were lower in 16 OECD countries.

In January 2023, no gender disparity was observed in Austria, Hungary, Mexico and Norway.

The OECD unemployment rate was generally stable for young workers and workers aged 25 and over.

MC // EA

By Impala News / Lusa

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