OECD area's unemployment rate stable at 4.8% in February

By Mucahithan Avicoglu

ISTANBUL (AA) - The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area remained stable in February at its record low of 4.8%, the organization said on Thursday.

This record low was first reached in March 2023, and the unemployment rate has remained close to this level ever since.

Compared to January, unemployment rates were unchanged in 22 OECD countries, fell in seven, and rose in two.

The EU and the eurozone posted record low unemployment rates of 5.7% and 6.1%, respectively.

Unemployment rates remained broadly stable in February in Canada at 6.7% and in the United States at 4.2%.

The number of unemployed persons in OECD countries fell slightly to 33.8 million in February.

Meanwhile, employment also stood stable at 70.2% in the last quarter of 2024.