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OECD logs record-low number of unemployed people in 2023

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OECD unemployment rate

Overall, unemployment rate for its members-states remained unchanged at 4.8% in December 2023, with the figure staying below five per cent throughout the year.

Only seven countries recorded an increase in unemployment rate, according to the OECD, with the largest increases recorded in Colombia and Korea.

Five nations recorded a decline in unemployment rate, while it remained unchanged for 21 members for December, the OECD reported.

By region, the OECD said the unemployment rate at the European Union and the euro area also stayed at record-lows, with 5.9% and 6.4%, respectively.

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