The unemployment rate in the US dropped to 3.5 percent in December 2022, falling below market expectations of 3.7 percent and matching the rates seen in September and July, which were the lowest since February 2020. The latest jobs report came on the heels of a sharp decline in weekly jobless claims to three-month lows and a smaller-than-expected decrease in the level of job openings in November, pointing to a still-tight and strong labor market, which could mean the US central bank will continue hiking interest rates for a while. The number of unemployed persons declined by 278 thousand to 5.72 million in December, while the number of employed increased by 717 thousand to 159.2 million. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States averaged 5.73 percent from 1948 until 2022, 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 January of 2023.
Unemployment Rate in the United States is expected to be 3.90 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 4.60 percent in 2024 and 4.40 percent in 2025, according to our econometric models.