OECD area jobless rate slightly rises to 4.9% in August

By Tuba Sahin

ANKARA (AA) - The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area slightly increased month-on-month to 4.9% in August.

The figure was 4.8% in July and 4.9% in June, the Paris-based organization said in a statement on Monday.

The jobless rate was below or equal to the pre-pandemic level in 80% of OECD countries.

Some 33.2 million people were unemployed in the OECD region as of August, up marginally for the first time since April 2021.

The OECD unemployment rate was stable for both women and men in August, compared to the prior month, at 5.1% and 4.7% respectively.

The youth unemployment rate for people aged 15-24 in the OECD area climbed to 10.6%, from 10.3% in July, the data showed.

In the second quarter of this year, both the employment and the labor force participation rates in the OECD were at their highest levels, hitting 69.5% and 73.2%, respectively.

The female labor force participation rate in the OECD reached 65.9% for the first time since the start of the series, the statement added.