The lowest level of unemployment has been recorded among OECD members since 1998



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The lowest level of unemployment has been recorded among OECD members since 1998



The unemployment rate among OECD member countries dropped to its lowest level since 1998, according to published data.

The unemployment rate dropped to 5.1 percent in August. In July, it was 5.2 percent.



There were 32.9 million unemployed in the OECD member countries.

Eurozone unemployment

The overall unemployment rate in the euro area fell to 7.4 percent, the same level as in April 2008. The largest decrease was observed in Italy, by 0.3 percentage points, and in Portugal, by 0.2 percentage points.

Outside Europe, unemployment was stable in Canada, where it stood at 5.7 percent, and in Mexico, the United States and Japan, where it stood at 3.5 and 3.7 and 2.2 percent, respectively.

In South Korea, it dropped 0.9 percentage points to 3.1 percent.

The decrease also in the US

The most recent September data shows that the U.S. unemployment rate dropped 0.2 percentage point over August to 3.5 percent, the lowest level since December 1969.

In August, the youth unemployment rate in the OECD area remained unchanged from the previous month and amounted to 11.2 percent.

In the euro area, unemployment in the age group up to 24 years decreased by 0.2 percentage points, to 15.4 percent. In Italy, Latvia and Portugal more than one percentage point has been reduced.

In Greece, Italy and Spain, however, it remained above 25 percent.

The lowest level of unemployment has been recorded among OECD members since 1998

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