The US unemployment rate jumped to 4.4 percent in March 2020, the highest since August 2017 and well above market expectations of 3.8 percent, as the Covid-19 crisis threw millions out of work. The number of unemployed increased by 1.35 million to 7.14 million, while the number of employed declined by 2.99 million to 155.77 million. The numbers are expected to get even worse in April as the government surveyed businesses and households for the report in mid-March, before majority of people was under some form of a lockdown.
Unemployment Rate in the United States averaged 5.73 percent from 1948 until 2020, 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. 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 2020. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States is expected to be 15.00 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 19.00 in 12 months time. In the long-term, the United States Unemployment Rate is projected to trend around 15.00 percent in 2021 and 12.90 percent in 2022, according to our econometric models.