The US unemployment rate declined to 7.9 percent in September 2020 from 8.4 percent in the previous month and below market expectations of 8.2 percent, as fewer people were looking for jobs. The labor force dropped by 0.7 million to 160.1 million, with the number of unemployed persons falling by 1.0 million to 12.6 million and employment rising by just 0.3 million to 147.5 million. The jobless rate remained well above pre-pandemic levels as the recovery from COVID-19 shock showed signs of slowing amid diminishing government stimulus and a spike in new cases. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States averaged 5.76 percent from 1948 until 2020, reaching an all time high of 14.70 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 October of 2020.
Unemployment Rate in the United States is expected to be 7.60 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 6.50 in 12 months time. In the long-term, the United States Unemployment Rate is projected to trend around 6.50 percent in 2021 and 4.40 percent in 2022, according to our econometric models.