The OECD says unemployment in Mexico remains below the group’s average. CUARTOSCURO/PATRICIA MORALES
THE NEWS
Unemployment in Mexico was only 4.8 percent at the end of 2014, according to a report published Tuesday by the Organization for Economic Cooperation and Development (OECD). The report places Mexico in third place out of the 34 OECD countries, following only South Korea and Japan.
The rate of unemployment in Mexico has fallen from 5.5 percent in 2009, and remains below the OECD average of 7.3 percent.
The report states that in December 2014 there were 2.5 million unemployed in Mexico, down 28,000 from the previous year.
Unemployment was at 9.5 percent among Mexicans age 15 to 24, and only 3.8 percent among those age 25 or older.
Unemployment in Mexico was only 4.8 percent at the end of 2014, according to a report published Tuesday by the Organization for Economic Cooperation and Development (OECD). The report places Mexico in third place out of the 34 OECD countries, following only South Korea and Japan.
The rate of unemployment in Mexico has fallen from 5.5 percent in 2009, and remains below the OECD average of 7.3 percent.
The report states that in December 2014 there were 2.5 million unemployed in Mexico, down 28,000 from the previous year.
Unemployment was at 9.5 percent among Mexicans age 15 to 24, and only 3.8 percent among those age 25 or older.
The total average unemployment rate was 3.9 percent for women and 4.8 percent for men, compared to an OECD average of 7.3 and 7.4 percent, respectively.
Spain had the highest unemployment rate in the OECD area, at 24.4 percent, followed by Portugal at 14.1 percent, Slovakia at 13.2 percent, Italy at 12.7 percent and Ireland at 11.4 percent, according to the report.
The countries with the lowest unemployment rates were South Korea at 3.5 percent, Japan at 3.6 percent, Mexico at 4.8 percent, and Austria and Germany at 5.0 percent.
Forty-three million people were unemployed in the OECD countries as of December 2014. While this is 6.7 million less than the record highs in April 2010, it is still 8.6 million more than in July 2008, before the financial crisis erupted later that year.
Spain had the highest unemployment rate in the OECD area, at 24.4 percent, followed by Portugal at 14.1 percent, Slovakia at 13.2 percent, Italy at 12.7 percent and Ireland at 11.4 percent, according to the report.
The countries with the lowest unemployment rates were South Korea at 3.5 percent, Japan at 3.6 percent, Mexico at 4.8 percent, and Austria and Germany at 5.0 percent.
Forty-three million people were unemployed in the OECD countries as of December 2014. While this is 6.7 million less than the record highs in April 2010, it is still 8.6 million more than in July 2008, before the financial crisis erupted later that year.
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