US Unemployment Stable at 4.3% in May

The US unemployment rate remained at 4.3% in May 2026, matching market expectations. The number of unemployed decreased by 66,000 to 7.31 million, while total employment increased by 149,000 to 162.77 million. The labor force grew by 83,000 to 170.08 million, with the participation rate unchanged at 61.8%, its lowest since October 2021. The employment rate inched up to 59.2% from a four-year low of 59.1%. The broader U-6 unemployment rate, which includes discouraged and underemployed workers, fell to 8.1% from 8.2%.

The US unemployment rate held at 4.3% in April 2026, in line with market expectations. However, the number of unemployed rose by 134,000 to 7.37 million, while total employment fell by 226,000 to 162.62 million. The labor force shrank by 92,000 to 170.0 million, pushing the participation rate down 0.1 percentage point to 61.8%, its lowest since October 2021. The employment rate also declined to 59.1%, the lowest in over four years, from 59.2%. Meanwhile, the broader U-6 unemployment rate, which includes discouraged and underemployed workers, increased to 8.2% from 8.0%.

The US unemployment rate fell to 4.3% in March 2026 from 4.4% in February, below market expectations of 4.4%. The number of unemployed decreased by 332,000 to 7.239 million, while total employment fell by 64,000 to 162.85 million. The labor force declined by 396,000 to 170.09 million, pushing the participation rate down 0.1 percentage point to 61.9%. Meanwhile, the broader U-6 unemployment rate, which includes discouraged and underemployed workers, rose to 8% from 7.9%.