OECD unemployment rate stable at 4.9% in December

ISTANBUL

The unemployment rate across the Organization for Economic Cooperation and Development (OECD) area remained steady at 4.9% in December for the fifth consecutive month, according to data released Thursday.

The total number of unemployed individuals in OECD countries rose slightly by 167,000 from the previous month, reaching 34.5 million, the Paris-based organization reported.

Four OECD countries recorded unemployment rates below 3.0%, while Spain was the only nation with a double-digit rate, at 10.6%.

Unemployment rates for both women and men were largely unchanged in October, standing at 5.2% and 4.7%, respectively.

The youth unemployment rate for individuals aged 15-24 fell slightly to 11.1% in December. However, it exceeded 20% in seven OECD countries.

Japan and Israel recorded the lowest youth unemployment rates in the OECD area, each below 4%.