Jobless rates remain rock bottom in April: OECD

Labour markets remained tight, with the jobless rate stable in April, according to new data from the OECD.

The Paris-based group reported that the overall unemployment rate was unchanged at 4.8% for April, with rates declining in 14 countries, rising in nine markets, and sitting unchanged in 10 countries.

The jobless rate was at, or close to, record lows in eight countries — including Canada, the U.S., France, and Germany — the OECD said.

The euro area also saw a record low, with the region’s jobless rate falling to 6.5% in the month, it reported.

And, the OECD noted that the overall jobless rate for young workers (aged 15 to 24) declined to a record low in April, with the rate falling for the second straight month to 10.2%, as it dropped in 17 countries.

Additionally, the number of unemployed workers for the OECD overall declined in April, almost returning to the record low level recorded in July last year.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.