The US unemployment rate dropped to 6.9 percent in October 2020, from the previous month's 7.9 percent and compared with market expectations of 7.7 percent, as the number of unemployed persons fell by 1.5 million to 11.1 million and the employment rose by 2.2 million to 149.8 million. Still, the jobless rate remained well above pre-pandemic levels of about 3.5 percent, as the labor market recovery from COVID-19 shock showed signs of slowing amid a lack of fiscal stimulus and spiraling new coronavirus infections. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States averaged 5.76 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 November of 2020.
Unemployment Rate in the United States is expected to be 7.60 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 6.50 in 12 months time. In the long-term, the United States Unemployment Rate is projected to trend around 6.50 percent in 2021 and 4.40 percent in 2022, according to our econometric models.