OECD area unemployment rate slightly down in February

By Aysu Bicer

ANKARA (AA) - The unemployment rate in the member states of the Organization for Economic Cooperation and Development (OECD) inched down to 6.7% in February, the global body said on Monday.

The rate remains 1.4 percentage points above the pre-pandemic level, according to an OECD statement. It was 6.8% in January.

The OECD youth unemployment rate – people aged 15 to 24 – diminished to 13.7% from 14.0% in January.

The unemployment rate was stable in the euro area, at 8.3%.

It fell marginally in the US to 6.2% from 6.3% in January, along with a decline in the number of people on temporary layoff, while the unemployment rate hit 8.2% in Canada, down 1.2 percentage points.

Australia recorded one of the largest declines in February, down by 0.5 percentage point to 5.8%.

By contrast, the unemployment rate increased by 0.5 percentage point in Israel to 5.1% and was stable in Japan at 2.9% and Mexico at 4.5%.