The unemployment rate in the United States eased to 4.2% in August of 2024 from the October 2021 high of 4.3% in the prior month, aligning with market expectations. The number of unemployed individuals was broadly unchanged from the previous month at 7.1 million. Among the unemployed, permanent job losers were loosely unchanged at 1.7 million, while individuals at a temporary layoff status dropped by 190 thousand to 872 thousand. Additionally, the number of long-term unemployed individuals seeking employment for over 27 weeks was steady at 1.5 million, making up for 21.3% of the unemployed population. Meanwhile, the labor force participation rate remained unchanged from the prior month at 62.7%. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States decreased to 4.20 percent in August from 4.30 percent in July of 2024. Unemployment Rate in the United States averaged 5.69 percent from 1948 until 2024, reaching an all time high of 14.90 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 September of 2024.
Unemployment Rate in the United States decreased to 4.20 percent in August from 4.30 percent in July of 2024. Unemployment Rate in the United States is expected to be 4.30 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 4.40 percent in 2025 and 4.30 percent in 2026, according to our econometric models.