  Okun's law for the biggest developed countries is re-estimated using the most
recent data on real GDP per capita and the rate of unemployment. Our results
show that the change in unemployment rate can be predicted with a high
accuracy. The link needs the introduction of a structural break which might be
caused by the change in monetary policy or/and in measurement units.
Statistically, the link between the studied variables is characterized by the
coefficient of determination between 0.40 (Australia) and 0.84 (the USA). The
residual errors can be associated with measurement errors. The obtained results
suggest the absence of structural unemployment in the studied developed
countries.
