Australian unemployment rate below OECD average

People at job interview. | Newsreel
Australia's unemployment rate is the 13th lowest in the OECD. | Photo: Fizkes (iStock)

Australia’s unemployment rate is well below the average global rate, according to the latest OECD data.

Analysis, released this week, of the 38 countries in the Organisation for Economic Co-operation and Development (OECD) showed that the average unemployment rate for those countries was 4.9 percent in April.

In April, Australia’s unemployment rate was 4.1 percent and dropped to 4.0 percent last month.

Australia has the 13th lowest rate in the OECD, ahead of the United Kingdom and New Zealand, both at 4.3 percent, with the United States slightly better than us at 3.9 percent.

Four countries have unemployment rates below 3 percent, with Japan boasting the lowest rate of all OECD countries at 2.6 percent, followed by Czechia, Mexico (both 2.7 percent) and Korea (2.8 percent).

At the other end of the scale, Spain’s unemployment rate in April was 11.7 percent with Colombia and Greece the other countries with rates above 10 percent.

The average youth unemployment rate, for people aged 15-24, across the OECD countries was 10.8 percent in April, with Australia below the average at 9.7 percent.

Japan (4.1 percent) and Israel (4.6 percent) had the lowest youth unemployment rates, while seven OECD countries, Spain, Sweden, Greece, Portugal, Slovak Republic, Colombia and Italy, had youth unemployment rates above 20 percent.

Read the full report.

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