In May 2026, the OECD average unemployment rate was 4.9%, but labor markets varied significantly by country as economic growth slowed. Finland had the highest unemployment at 10.8%, with youth unemployment at 23%. Several European nations, including Spain, Sweden, and France, also experienced unemployment rates above the OECD average. Spain's high unemployment is a decades-long structural issue, while France and Sweden face softer labor demand due to weaker European economic growth. Conversely, Japan, Mexico, and South Korea reported the lowest unemployment rates, benefiting from tight labor markets. These included favorable demographics, steady employment demand, or structural labor shortages. The United States unemployment rate was 4.2%, below the OECD average, while Canada's was 6.6%. Despite global economic uncertainties, the overall OECD unemployment average indicates relatively healthy labor markets. The data highlights the diverse economic landscapes and labor market conditions within OECD member countries.