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Unemployment - International Comparisons: Key Economic Indicators

Published Tuesday, November 13, 2018

Unemployment: International Comparisons: Data on harmonised unemployment rates for major international economies.

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The OECD produces harmonised unemployment rates for OECD members based on the ILO definition of unemployment.

 

The UK harmonised unemployment rate for Q2 2018 was 4.0%. This was slightly above the rate of the US (3.9%), below that of France (9.1%) but above that of Germany (3.4%). The UK rate was the 12th lowest of the 36 OECD member countries.

The unemployment rate for the Eurozone fell to 8.1% in Q3 2018 from 8.3% in Q2 2018, and fell for the G7 from 4.6% to 4.5%. The Q3 2018 figure for the UK has not yet been published.

Almost all of the OECD countries have seen a fall in the unemployment rate over the last year.

Greece had the highest unemployment rate out of the OECD member states for Q2 2018 (19.5%) followed by Spain at 15.4%. The Czech Republic had the lowest unemployment rate in the OECD for Q2 2018 at 2.3%.

Youth (aged 15-24) unemployment is a major issue in many developed economies at present. In Q2 2018 youth unemployment was 39.1% in Greece, 34.5% in Spain and 31.9% in Italy. UK youth unemployment stood at 11.1%.

Commons Briefing papers SN02800

Author: Andy Powell

Topics: Economic situation, International economic relations, Unemployment

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