Unemployment rate in OECD area remains at record low in October

By Gokhan Ergocun

ISTANBUL (AA) - The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area continued to remain at a record low of 4.9% in October.

In a statement, the organization said that the lowest rates were recorded in the Czech Republic (2.1%), Japan (2.6%), and South Korea (2.8%).

The highest figures were seen in Spain (12.5%), Greece (11.6%), and Colombia (10.9%).

"This average rate masks wide differences across countries with the unemployment rate at its record low only in Australia and France," the statement said.

There are 33.3 million unemployed people in the OECD region as of October 2022, it added.

The unemployment rate was 5.2% for women and 4.7% for men in the month.