The jobless rate has been declining for a full year, according to new data from the Organization for Economic Cooperation and Development (OECD).
The OECD’s unemployment rate slipped to 5.0% in April from 5.1% the previous month, marking 12 months in a row of falling unemployment.
The jobless rate is now below its pre-pandemic level in three-quarters of the countries that belong to the OECD, the Paris-based group said.
Alongside the drop in the unemployment rate, the number of unemployed workers is now half a million below its pre-pandemic level in the OECD.
In April, the unemployment rate was stable in the U.S. and the Euro area, but declined in various markets including Canada, Japan and Mexico.