The US unemployment rate fell to 6 percent in March of 2021 from 6.2 percent in the previous month, the lowest rate in a year and in line with market expectations. The rate has been falling steadily in recent months after reaching an all-time high of 14.8 percent in April last year but many believe it has been understated by people misclassifying themselves as being “employed but absent from work”. The number of unemployed people fell by 262 thousand to 9.710 million while the number of employed rose by 609 thousand to 150.85 million. The labor force participation rate edged up to a 3-month high of 61.5 percent from 61.4 percent. Fed Chair Powell recently said the participation rate is seen expanding and holding the unemployment rate up which would be a highly desirable outcome. 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 April of 2021.
Unemployment Rate in the United States is expected to be 6.00 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 5.50 in 12 months time. 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.