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OECD Countries’ Unemployment Situation Will Certainly Instruct You



OECD Countries

The Organisation for Economic Co-operation and Development (OECD) is an international organisation that unites some of the most developed countries of the world.

In this economic block are countries like the United States of America (USA) United Kingdom, Canada, Israel, Netherlands, Switzerland, Germany, Ireland and Denmark, just to mention a few.

Committed for the next decade to the preservation of individual liberty, the values of democracy, the rule of law and the defence of human rights, the belief of the OECD as a block are no less instructive.


It says: “Guided by our Convention, we will pursue sustainable economic growth and employment, while protecting our planet.

“Our shared endeavour is to end poverty, to tackle inequalities and to leave no one behind.

“We want to improve the lives and prospects of everyone, inside and outside the OECD. As a global pathfinder, the OECD will therefore continue to develop evidence-based analysis that helps generate innovative policies and standards to build stronger, more sustainable and more inclusive economies, inspiring trust and confidence for resilient, responsive and healthy societies”


With such an interesting background, what then is the economic situation in the OECD countries, beginning for example, from employment.

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“The OECD unemployment rate was broadly stable at 4.8% in January 2024, having remained below 5.0% since July 2022.


OECD Countries“The rate was unchanged in 23 OECD countries in January, rose in 6 countries, and declined in only 3 countries. The number of unemployed persons in the OECD decreased to 33.5 million in January, mainly driven by a decrease in the number of unemployed younger workers (aged 15-24) (Table 2).

“In January 2024, the OECD unemployment rate for women remained broadly stable at 5.0%, 0.3 percentage point higher than the rate for men, which also remained stable.

“The unemployment rate for women also exceeded that of men in the European Union, the euro area and 21 OECD countries in January 2024 (or in the latest period available) with the largest gender gaps in Greece, Colombia, Türkiye, and Spain.

“By contrast, the unemployment rate for women was lower than that for men in 16 OECD countries, and the unemployment rate for women and men was the same in Sweden (Figure 3 and Table 3). The OECD unemployment rate was stable for workers aged 25 and above while it declined for younger workers.


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“In the European Union and the euro area, the unemployment rate remained at record lows of 6.0% and 6.4%, respectively. In January 2024, it was stable or increased in most OECD euro area countries. Only Austria recorded a marked decrease.

“Outside the European OECD countries, unemployment rates in January 2024 were also stable or declined. The largest decrease was recorded in Colombia (Table 1). In February 2024, the unemployment rate was broadly stable at 5.8% in Canada, while it increased in the United States to 3.9%, its highest level since January 2022”.