New data for May 2026 reveals significant disparities in labor market performance across advanced economies, particularly within the 38-member Organisation for Economic Co-operation and Development (OECD). While the average unemployment rate for the bloc settled at 4.9%, several European nations and other members continue to grapple with elevated jobless figures, according to Visual Capitalist, citing OECD statistics.
Economic slowdowns, subdued consumer demand, and structural challenges are contributing factors to these persistent high rates. Here’s a detailed look at the ten OECD countries experiencing the highest unemployment in 2026:
Top 10 OECD Countries by Unemployment Rate (May 2026)
Finland - 10.8%
Finland registers the highest unemployment rate in the OECD. The nation has also seen a sharp increase in youth unemployment, with nearly 23% of individuals under 25 out of work, primarily due to weaker economic growth and softer labor demand.
Spain - 10.3%
Spain continues to be one of the most challenging labor markets within the OECD. Despite ongoing economic recovery efforts, the country has historically struggled with structurally high unemployment, making it an outlier among advanced economies.
Chile - 9.2%
Chile ranks third, with its unemployment rate significantly above the OECD average. Although the economy has stabilized following recent global disruptions, job growth has lagged, hindering a full employment recovery.
Sweden - 8.8%
Sweden's unemployment rate is notably higher than many of its Nordic counterparts. A deceleration in economic activity, reduced consumer spending, and a softer hiring environment have all contributed to these elevated levels.
France - 8.2% (Tied)
France shares the fifth spot, with its unemployment rate remaining above the OECD average. While recent labor market reforms have shown some positive impact on employment, slower economic expansion continues to pose challenges.
Türkiye - 8.2% (Tied)
Türkiye also recorded an 8.2% unemployment rate. High inflation, economic volatility, and evolving business conditions have influenced hiring patterns, though employment indicators have improved compared to previous years.
Greece - 8.1%
Greece remains among the OECD countries with the weakest labor markets. Despite significant improvements from the double-digit rates during its sovereign debt crisis, the country still faces hurdles in creating sufficient jobs, particularly for young people and the long-term unemployed.
Colombia - 8.0%
Colombia’s 8.0% unemployment rate reflects persistent labor market pressures. Widespread informal employment and slower hiring in the formal sector keep joblessness high relative to most OECD members, even with improving economic activity.
Lithuania - 7.3%
Lithuania’s unemployment rate places it ninth in the OECD. The country, an export-oriented economy, has felt the impact of weaker economic momentum and dampened labor demand across Europe.
Denmark - 6.9%
Denmark rounds out the top 10. Despite possessing one of Europe's most flexible labor markets, the nation has experienced softer hiring amidst slowing economic activity, though its rate remains lower than many other top-10 European economies.
Other Notable Trends
Canada narrowly missed the top 10 with an unemployment rate of 6.6%, reflecting a cooling labor market influenced by higher interest rates and slower economic growth. In contrast, several OECD economies have maintained exceptionally tight labor markets.
Japan recorded the lowest unemployment rate in the OECD, followed by Mexico, South Korea, and Czechia. These countries benefit from a combination of aging populations, labor shortages, resilient domestic demand, and strong workforce participation. The United States, with a 4.2% unemployment rate, remained below the overall OECD average.