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OECD unemployment rate down to 5.2% in February 2019

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09/04/2019 - The OECD unemployment rate fell by 0.1 percentage point, to 5.2%, in February 2019, with the number of unemployed decreasing by 0.8 million. Across the OECD area, 33.3 million people were unemployed.

The unemployment rate in February was stable in the euro area (at 7.8%), with increases of 0.2 percentage point in Austria (to 5.0%), Italy (to 10.7%) and Luxembourg (to 5.3%), and decreases of 0.2 percentage point or more in Portugal (to 6.3%), the Netherlands (to 3.4%) and Spain (to 13.9%).

Outside Europe, the unemployment rate declined by 0.7 percentage point in Korea (to 3.7%), by 0.2 percentage point in Japan (to 2.3%) and the United States (to 3.8%), while it was stable in Canada (at 5.8%) and Mexico (at 3.4%). More recent data show that in March, the unemployment rate was stable in both Canada (at 5.8%) and the United States (at 3.8%).

The OECD unemployment rate for youth (people aged 15 to 24) remained at 11.2% in February. The youth unemployment rate declined by 0.1 percentage point in the euro area, to 16.1% (its lowest level since July 2008), with decreases of 1.2 percentage points in Portugal (to 16.4%) and 0.3 percentage point in Latvia (to 13.2%) and the Slovak Republic (to 11.6%),and an increase of 1.0 percentage point in Luxembourg (to 12.9%). The youth unemployment rate remained above 30% in Spain (at 32.4%), Italy (at 32.8%) and Greece (at 39.5% in December, the latest month available).

• Next publication date: 14 May 2019 - see all release dates
• Contacts: for further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00 or news.contact@oecd.org;  others should contact the Statistics Directorate on stat.contact@oecd.org.
• Link to previous news releases
• More information on labour statistics at www.oecd.org/sdd/labour

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