Employment hits record highs in OECD countries
The Organization for Economic Co-operation and Development (OECD) reported that 40% of its 38 countries “reached historic highs in employment and labor force participation rates, in the third quarter of 2022.”
In his report on the “State of the labor market”, He pointed out that since the record was set in 2005, the employment rate of member countries is at the highest level with 69.5% at the end of October this year. While in the labor force participation indicator it stood at 73.2%, also being one of the highest, during the same period, a record figure since 2008.
“About 40% of the countries of the OECD They were at historic highs for both indicators. The number of employed people, employed by others or self-employed, also reached its highest level with 607.9 million workers,” he revealed.
In the case of Mexico, the international organization, pointed out that this country had 54 million 245,000 jobs, which meant an employment rate of 62.5% in November 2022, a figure slightly higher than in the years preceding the pandemic when it posted 62.3% in 2019; 61% in 2021.
Regarding the OECD employment average for the third quarter of 2022, it remained at 69.5, similar to the years before the health crisis, while countries such as Iceland with 82.3% d ‘job ; Next New zealand which was located at 80.1; Switzerland reports levels of 79.3%; Japan 78.6; Australia 77.5; Denmark 76.8; Kingdom United 75.5; State Joined with 71.4; while on the other hand, Mexico amounts to 62.5%.
With regard to unemployment levels – with figures updated in November – the average of OECD it stands at 4.9%, a figure lower than that recorded in 2020, which was 7.2, and lower than that reported in 2021, of 6.2%.
With regard to Mexico, the level of unemployment revealed by the OECD with figures from the National Institute of Statistics and Geography (INEGI) was 2.9 in November, one of the lowest since 2020, when it stood at 4.4%, and less than 4.1% in 2021.
By sex, according to data from the OECD the average unemployment rate for member countries fell slightly to 5.1% for women; while it remained stable at 4.7% for men. And it also fell slightly for young workers aged 15 to 24 and remained stable for workers aged 25 and over.
Source: El Heraldo De Mexico
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