Mexico 4th among countries with lower unemployment rates: OECD

Mexico placed fourth among the countries with the lowest unemployment rates in November 2014, the Organization for Economic Cooperation and Development (OECD) reported on Tuesday, January 13th.

At 4.7 percent in November, Mexico’s unemployment rate was below average among the 32 countries that make up the OECD. Only Korea, Japan and Iceland showed lower unemployment rates.

Mexico remained stable for the second consecutive month at 4.7 percent in November, a rate that affected 2.4 million Mexicans; 56,000 more than last October, the OECD said.


The rate of youth unemployment in the country grew to 9.8 percent in November, up from 9.3 percent in October. Unemployment among adults decreased from 3.7 percent to 3.6 per- cent during the same period.

Unemployment among Mexican women remained generally stable at 4.9 percent in November, while unemployment among Mexican men varied, finishing at 4.6 percent.

In the OECD annual report, the unemployment rate for all countries within the OECD remained stable at 7.2 percent in November for a third consecutive month.


The report indicated there were 43.8 million unemployed people in November within the combined OECD countries, 5.9 million less than the highest number recorded in April 2010. Still, the number is 9.3 million more than reported in July 2008.

OECD numbers show that the countries with the highest rates of unemployment in November were Spain at 23.9 percent, Portugal at 13.9 percent, the Czech Republic at 12.6 percent and Ireland at 10.7 percent.

The lowest rates of unemployment were registered in Korea at 3.4 percent, Japan at 3.5 percent, Iceland at 4.6 percent, Mexico at 4.7 percent and Austria at 4.9 percent.