OECD area unemployment at 5.3% in January

The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area remained unchanged at 5.3% in January, according to a statement from the institution.

The figure saw the pre-pandemic level in February 2020 and reached the lowest level after 2001 when the data was started to be recorded.

The number of unemployed people across the OECD area totaled 35.9 million. The figure was up by 0.3 million compared to the pre-pandemic level of February 2020.

The youth unemployment rate indicating people aged between 15 and 24 rose by 0.1 percentage points to 11.3% month-over-month in January.

In the euro area, the unemployment rate also declined in January to 6.8%, from 7.0% in December 2021. 

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