The US unemployment rate held steady at 3.5 percent in December 2019, remaining at the lowest level since 1969 and in line with market expectations. The number of unemployed people decreased by 58 thousand to 5.75 million while employment rose by 267 thousand to 158.80 million. The labor force participation rate was unchanged at 63.2 percent. Unemployment Rate in the United States averaged 5.73 percent from 1948 until 2019, reaching an all time high of 10.80 percent in November of 1982 and a record low of 2.50 percent in May of 1953. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States is expected to be 3.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in the United States to stand at 3.90 in 12 months time. In the long-term, the United States Unemployment Rate is projected to trend around 4.10 percent in 2020, according to our econometric models.