OECD jobless rate remains at record low for 13th successive month

By Tuba Ongun

The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area remained at a record low of 4.8% in July, for the 13 consecutive month, the international group said on Wednesday.

The number of jobless people increased to 32.9 million in July, according to the Paris-based organization.

The OECD unemployment rates for women and men were broadly stable at 5% and 4.6%, respectively.

The youth unemployment rate for people aged 15-24 ticked up to 10.5% in July, from 10.3% in June.

The unemployment rate for younger workers rose in 14 OECD countries, with the largest increases seen in Finland, Austria, Denmark, Israel, Mexico, and the US.

In April, the jobless rate in the euro area remained at historic low of 6.4%.