OECD employment rate at record high of 70% in 2023

By Tuba Ongun

The employment rate in the Organization for Economic Cooperation and Development (OECD) area was at a record high of 70% in 2023, according to data released on Wednesday.

The figure improved from 69.3% in 2022, data from the Paris-based organization showed.

The gender gap narrowed as the OECD employment rate rose at a faster pace among women to 63.2% than among men to % 76.9%, both hitting their all-time high.

In 2023, the OECD labor force participation rate among workers aged 15-64 also reached its highest level of 66.6% for women and 80.8% for men.

Meanwhile, in February, the jobless rate remained broadly stable at 4.9% in the OECD area.