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OECD unemployment rate down to 5.2% in May 2018

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10/07/2018 - The OECD unemployment rate fell in May 2018 by 0.1 percentage point for the second consecutive month, to 5.2%. Across the OECD area (now including Lithuania[1]), 33.2 million people were unemployed, 0.5 million more than in April 2008[2], but 16.1 million less than at its peak in January 2013.  

In the euro area, the unemployment rate was stable in May (at 8.4%), with rates declining by 0.3 percentage point in Italy (to 10.7%) and by 0.2 percentage point in Austria (to 4.6%) and Spain (to 15.8%). By contrast, it increased by 0.1 percentage point (to 7.3%) in Portugal.

The unemployment rate fell by 0.3 percentage point in Japan (to 2.2%), by 0.2 percentage point in Australia (to 5.4%) and Mexico (to 3.2%), and by 0.1 percentage point in the United States (to 3.8%). It was stable in Canada (at 5.8%) while it increased by 0.2 percentage point in Korea (to 4.0%). More recent data show that in June, the unemployment rate increased by 0.2 percentage point in Canada (to 6.0%) and the United States (to 4.0%).

The OECD unemployment rate for youth (people aged 15 to 24) was stable at 10.9% in May. The youth unemployment rate decreased by 0.3 percentage point in the euro area, to 16.8%, with declines by 0.5 percentage point or more in Italy, Latvia and Spain. However, the youth unemployment rate remained above 30% in Greece (43.2% in March, the latest month available), Spain (33.8%) and Italy (31.9%).

• Next publication date: 11 September 2018 - 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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