The US unemployment rate dropped to 5.8 percent in May 2021, the lowest since March 2020 and below market expectations of 5.9 percent, adding to signs that the job market consolidated its recovery as the economy further reopened. Still, the rate remained well above the 3.5 percent recorded in February 2020, just before the virus tore through the economy. A steady decline in the number of daily coronavirus cases due to vaccinations has allowed authorities to lift restrictions on businesses, but employers have been complaining that they cannot find enough workers to respond to growing demand. The number of unemployed people declined by 496 thousand to 9.32 million, while employment rose by 444 thousand to 151.62 million. 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 June 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.