Finland & Spain Have The Highest Unemployment Rates, Japan The Lowest

Unemployment across the OECD averaged 4.9% in May 2026, but labor market conditions continued to vary significantly from one country to another as economic growth slowed across parts of the developed world.

This visualization ranks seasonally adjusted unemployment rates for people aged 15 and older across OECD member countries in May 2026, using data from the OECD.

Finland Tops the Ranking

Finland recorded the highest unemployment rate among OECD countries at 10.8%, narrowly ahead of Spain at 10.3%.

The country’s labor market challenges have been especially pronounced among younger workers, with unemployment reaching 23% among Finns under the age of 25.

Several European Economies Face Labor Market Pressure

Europe dominates the upper end of the ranking, with Sweden, France, Türkiye, Greece, Lithuania, Denmark, Luxembourg, and the Baltic states all posting unemployment rates above the OECD average of 4.9%.

Spain has consistently recorded one of the highest unemployment rates in the OECD for decades, reflecting long-standing structural challenges in its labor market.

Meanwhile, countries such as France and Sweden have also experienced softer labor demand amid weaker economic growth across Europe.

Japan and South Korea Remain Among the Lowest

At the opposite end of the ranking, Japan posted the lowest unemployment rate at just 2.5%, followed by Mexico (2.7%), South Korea (2.8%), Israel (2.8%), and Czechia (2.9%).

These countries continue to benefit from relatively tight labor markets, supported by demographic trends, steady employment demand, or structural labor shortages.

The United States also remained below the OECD average, with an unemployment rate of 4.2%, while Canada stood at 6.6%, reflecting somewhat weaker labor market conditions than its southern neighbor.

Overall, the OECD average unemployment rate of 4.9% suggests that labor markets remain relatively healthy despite slowing global growth and ongoing economic uncertainty.

If you enjoyed today’s post, check out this graphic on the world’s richest countries by GDP per capita.