OECD unemployment rate at record low of 4.8% in December

By Tuba Ongun

ANKARA (AA) – The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area in December 2023 remained stable at its record low of 4.8% for the 10th consecutive month, the Paris-based group said on Thursday.

The number of jobless in the OECD decreased for the third consecutive month to a record low of 33.2 million in 2023. It reached annual record lows in Israel, Latvia, Poland, and Slovenia, data showed.

The OECD unemployment rate for men and women were broadly stable at 5% and 4.7%, respectively.

The youth unemployment rate for people aged 15 to 24 ticked down to 10.6% in December, from 10.7% in November. The figure recorded the largest hikes in Austria, Czechia, Iceland, and Sweden.

In November, the jobless rate in the euro area was at a record low of 5.9%.