PLEASE PUBLISH AT 2PM LOCAL TIME - OECD unemployment rate at record low of 4.8% in November

Number of jobless in OECD stands at 33.4M in November, Paris-based organization says

By Tuba Ongun

ANKARA (AA) – The jobless rate in the Organization for Economic Cooperation and Development (OECD) area last November stood at its record low of 4.8% for the ninth consecutive month, the Paris-based group said on Thursday.

The number of unemployed in the OECD was stable at 33.4 million in November, its highest level in 2023.

The OECD unemployment rate for men has remained below 5% for nearly three years, hitting 4.8% in November, while it was stable at 5% for women for the fifth consecutive month.

The youth unemployment rate for people aged 15 to 24 edged down to 10.8% in November, from 10.9% in October.

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

The highest youth unemployment rates among OECD countries were seen in Spain at 27.9%, Greece at 27.3% and Portugal at 23.5%.

In November, the jobless rate in the euro area was broadly constant at 6.4%.

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