Despite dimming economic growth prospects, unemployment remained stable in July, the Organization for Economic Cooperation and Development (OECD) says.
The Paris-based OECD reported that the jobless rate was unchanged at 5.0% in July, as unemployment remained flat in 16 countries, declined in nine countries, and rose in seven countries.
In Europe, the unemployment rate remained at a record low of 6.0% in July, as it was unchanged in about half of the region’s countries.
Outside Europe, the jobless rates rose in the U.S. and Japan, but they were flat or down in most other countries.
More recent data for August indicated that the unemployment rate rose in Canada, and was flat in the U.S.
The OECD also reported that the jobless rates were broadly stable for both young workers (aged 15-24) and for older workers (aged 25 and above).