The US unemployment rate jumped to 14.7 percent in April 2020, the highest in the history of the series and compared to market expectations of 16 percent, as the Covid-19 crisis threw millions out of work. The number of unemployed persons rose by 15.9 million to 23.1 million, while the number of employed declined by 22.4 million to 133.4 million. The labor force participation rate decreased by 2.5 percentage points over the month to 60.2 percent, the lowest rate since January 1973.
Unemployment Rate in the United States averaged 5.74 percent from 1948 until 2020, 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 June 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.