The OECD unemployment rate remains at 4.8% in February, the lowest level since 2001.

The unemployment rate remained at its lowest level since 2001 in February, at 4.8% in the OECD and 6.6% in the euro area, it was announced this Thursday.

In a statement released this Thursday, the Organization for Economic Co-operation and Development (OECD) said that the unemployment rate remained unchanged or fell in more than 70% of member states, but is close to the lowest level in just seven countries, including Canada. , France and Germany.

Portugal’s unemployment rate fell from 7% in January to 6.8% in February, but remained above the lowest in the series, 5%, recorded in January 2001.

The OECD highlights that Canada’s unemployment rate remained stable at 5% in March for the fifth straight month and eased slightly to 3.5% in the US.

In the same statement, the organization indicates that the OECD’s employment and labor force participation rates increased to 69.6% and 73.3% in the fourth quarter of 2022, a new high for a series that began in 2005 and 2008, respectively.

According to him, almost half of the organization’s countries recorded highs in two indicators, including Canada, France, Germany and Japan.

In the fourth quarter of 2022, the employment rate returned to a peak of around 70% in the euro area and the European Union, the highest level since 2005.

On the contrary, in Colombia and Lithuania it decreased by more than 1.0 percentage points.

In 2022, the number of working men and women increased in all age groups and reached a record level for both workers aged 25-54 and older workers aged 55-64.

Despite recent growth, the number of young men and women employed in 2022 has remained below the 2007 peak.

The employment rate in OECD countries reached a record high of 62.5% for women, while holding the highest level of 76.7% for men for the third consecutive month.

The OECD labor force participation rate also reached a record high of 66% for women and remained stable for men at a pre-pandemic level of 80.6%.