OECD unemployment rate stable at 4.9% in September 2022 close to the record low
The unemployment rate in the OECD was stable in September 2022, at 4.9%, slightly above its lowest point since the start of the series in 2001 (4.8%) recorded in July 2022 (Figure 1, Table 1). This rate was 0.4 percentage point below its pre-pandemic level (Figure 2). The number of unemployed workers in the OECD decreased slightly, to 33 million (Table 2).
The OECD unemployment rate was broadly stable in September for both women and men, at 5.1% and 4.6% respectively, as well as for workers aged 25 and above (Tables 3 and 4). However, the unemployment rate for younger workers slightly increased over the last two months, reaching 10.8% in September.
In the euro area, the unemployment rate decreased slightly, by 0.1 percentage point, to 6.6% in September reaching its lowest level since the start of the series in 1990. The unemployment rate was stable or decreased in 80% of euro area countries, with the largest declines observed in Austria, France, Greece and Lithuania.
Outside Europe, the unemployment rate fell in Canada, Mexico and the United States and was broadly stable in Japan. By contrast, it increased in Israel and Korea. More recent data show that in October 2022, the unemployment rate was stable at 5.2% in Canada while it increased to 3.7% in the United States from 3.5% in September.
Figure 1 – Unemployment rates (1) Percentage, seasonally adjusted
- The fall in the OECD unemployment rate when compared with the April 2020 peak should be interpreted with caution, as it largely reflects the return of temporary laid-off workers in the United States and Canada, where they are recorded as unemployed, unlike in most other countries, including European member states, where they are recorded as employed.
Figure 2 – Change in unemployment rate for OECD countries September 2022 compared with February 2020, percentage points
- For Costa Rica, Chile, and Türkiye change between February 2020 and August 2022; for the United Kingdom, change between February 2020 and July 2022; for Switzerland, change between fourth quarter 2019 and second quarter 2022; for New Zealand, change between fourth quarter 2019 and third quarter 2022.
Table 1 – OECD Unemployment rates
Percentage of labour force, seasonally adjusted
…: Not applicable ..: Not available
- Mexico: April, May and June 2020 monthly figures are based on the INEGI Encuesta Telefónica de Ocupación y Empleo (ETOE) phone survey. These data are not strictly comparable with the results for earlier months. Data from July 2020 are based on the new Encuesta Nacional de Ocupación y Empleo (ENOE) survey, combining telephone and face-to-face interviews.
Source: OECD Short-term Labour Market Statistics, https://stats.oecd.org/index.aspx?lang=en&QueryId=36324
Table 2 – Unemployment levels
Thousands of persons, seasonally adjusted
…: Not applicable ..: Not available
- Mexico: April, May and June 2020 monthly figures are based on the INEGI Encuesta Telefónica de Ocupación y Empleo (ETOE) phone survey. These data are not strictly comparable with the results for earlier months. Data from July 2020 are based on the new Encuesta Nacional de Ocupación y Empleo (ENOE) survey, combining telephone and face-to-face interviews.
Source: OECD Short-term Labour Market Statistics, https://stats.oecd.org/index.aspx?lang=en&QueryId=36325.
Table 3 – Unemployment rates by sex
Percentage of the labour force of each group, seasonally adjusted
…: Not applicable ..: Not available
- Mexico: April, May and June 2020 monthly figures are based on the INEGI Encuesta Telefónica de Ocupación y Empleo (ETOE) phone survey. These data are not strictly comparable with the results for earlier months. Data from July 2020 are based on the new Encuesta Nacional de Ocupación y Empleo (ENOE) survey, combining telephone and face-to-face interviews.
Source: OECD Short-term Labour Market Statistics, https://stats.oecd.org/index.aspx?lang=en&QueryId=36499.
Table 4 – Unemployment rates by age group
Percentage of the labour force of each group, seasonally adjusted
…: Not applicable ..: Not available
- Belgium and Slovenia: For youth unemployment, quarterly data are shown for all the months in the quarter.
- Israel: Data shown in this table are not seasonally adjusted.
- Mexico: April, May and June 2020 monthly figures are based on the INEGI Encuesta Telefónica de Ocupación y Empleo (ETOE) phone survey. These data are not strictly comparable with the results for earlier months. Data from July 2020 are based on the new Encuesta Nacional de Ocupación y Empleo (ENOE) survey, combining telephone and face-to-face interviews.
Source: OECD Short-term Labour Market Statistics, https://stats.oecd.org/index.aspx?lang=en&QueryId=36499.
