OECD Unemployment Rate Reaches 4.9% in July 2026: Its Lowest Level in a Year
According to a report, the OECD unemployment rate stood at 4.9% in July 2026, marking a decline from 5.0% in June and approaching its historical low of 4.8% set in June 2023. This data reveals a significant drop in the number of unemployed individuals within the OECD, now at 34.7 million, the lowest count in a year.
In July 2026, the European Union and euro area maintained unemployment rates of 6.1% and 6.4%, respectively. Notable mentions include Japan, Mexico, and Korea, which continued to showcase unemployment rates below 3.0%, the lowest among OECD countries. Conversely, Finland and Spain reported double-digit unemployment rates, with Finland’s rate being nearly 5.0 percentage points above its historical low from two decades ago.
In July 2026, most OECD countries (21 out of 33 with available data) experienced stable unemployment rates, as did 14 OECD countries within the European Union.
The OECD youth unemployment rate (aged 15-24) dipped slightly to 11.0% in July, though it remained significantly higher than the rate for workers aged 25 and over, which has hovered around 4.2% since February 2022. Double-digit youth unemployment rates persisted in 30 OECD countries, with Chile and seven European Union countries exceeding 20%.
Gender-wise, the OECD unemployment rates for women and men remained constant at 5.1% and 4.8%, respectively, keeping the gender gap at 0.3 percentage points. This gap remained consistent across the European Union and euro area, as well as in the G7, where it continued to be negative at -0.3 percentage points.
