OECD unemployment rate falls to 7.3% in September

ANKARA

The unemployment rate in member states of the Organization for Economic Co-operation and Development (OECD) was slightly down to 7.3% in September, the group said on Tuesday.

The figure dropped from 7.4% in August, but it was still 2.1% above the pre-pandemic level in the OECD countries.

The OECD youth unemployment rate, people aged 15 to 24, also declined by 0.8% to 14.6% in September.

In the euro area, unemployment rate was stable at 8.3% in September, which is 1% higher than in February. The OECD, however, emphasized temporary layoffs are not included in the unemployment rate in the euro area.

France saw the biggest rise in the euro area, up by 0.4% to 7.9%, while largest decreases were recorded in Latvia and Portugal, both with 0.4%.

The US and Canada saw drop by 0.5 and 1.2 percentage points respectively to 7.9% and 9% as temporary layoffs returned to work, it added.

In October, the unemployment rate continued to fall to 6.9% in the US, while it declined marginally to 8.9% in Canada, according to the organization.

In Japan, the jobless rate remained constant at 3%.