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Home Business News OECD unemployment rate unchanged at 4.8% in January 2024
Leon Sosra / Avalon
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OECD UNEMPLOYMENT RATE UNCHANGED AT 4.8% IN JANUARY 2024

by LLB staff reporter March 14, 2024
written by LLB staff reporter 14th Mar 24 12:56 pm

The OECD unemployment rate was broadly stable at 4.8% in January 2024, having
remained below 5.0% since July 2022.

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The rate was unchanged in 23 OECD countries in January, rose in 6 countries, and
declined in only 3 countries.



The number of unemployed persons in the OECD decreased to 33.5 million in
January, mainly driven by a decrease in the number of unemployed younger workers
(aged 15-24).

In January 2024, the OECD unemployment rate for women remained broadly stable at
5.0%, 0.3 percentage point higher than the rate for men, which also remained
stable.

The unemployment rate for women also exceeded that of men in the European Union,
the euro area and 21 OECD countries in January 2024 (or in the latest period
available) with the largest gender gaps in Greece, Colombia, Türkiye, and Spain.
By contrast, the unemployment rate for women was lower than that for men in 16
OECD countries, and the unemployment rate for women and men was the same in
Sweden.




The OECD unemployment rate was stable for workers aged 25 and above while it
declined for younger workers.

In the European Union and the euro area, the unemployment rate remained at
record lows of 6.0% and 6.4%, respectively. In January 2024, it was stable or
increased in most OECD euro area countries. Only Austria recorded a marked
decrease.







Outside the European OECD countries, unemployment rates in January 2024 were
also stable or declined. The largest decrease was recorded in Colombia. In
February 2024, the unemployment rate was broadly stable at 5.8% in Canada, while
it increased in the United States to 3.9%, its highest level since January 2022.


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