The US unemployment rate fell to 4.6 percent in October 2021, the lowest since March 2020 and slightly below market expectations of 4.7 percent. The labor market continued to gradually recover from the pandemic hit, helped by a surge in demand for labor, record levels of job openings, the expiration of enhanced jobless benefits and the subsiding summer wave of COVID-19 infections. The number of unemployed people declined by 255 thousand to 7.4 million in October, while employment levels rose by 359 thousand to 154.0 million. Still, the unemployment rate remained well above the pre-crisis level of about 3.5 percent, amid reports of persistent worker shortages. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States averaged 5.77 percent from 1948 until 2021, reaching an all time high of 14.80 percent in April of 2020 and a record low of 2.50 percent in May of 1953. This page provides the latest reported value for - United States Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.
Unemployment Rate in the United States is expected to be 5.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Unemployment Rate is projected to trend around 5.00 percent in 2022 and 4.30 percent in 2023, according to our econometric models.