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Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
A rough comparison of September 2014 (when the unemployment rate was 5.9%) versus October 2009 (when the unemployment rate peaked at 10.0%) helps illustrate the analytical challenge. The civilian population increased by roughly 10 million during that time, with the labor force increasing by about 2 million and those not in the labor force ...
[177] In March 2018, according to US Unemployment Rate Statistics, the unemployment rate was 4.1%, below the 4.5–5.0% norm. [178] In 2021, the labor force participation rate for non-white women and women with children declined significantly during the covid-19 pandemic, with approximately 20 million women leaving the workforce.
The youth unemployment rate was 18.5% in July 2009, the highest rate in that month since 1948. [188] The unemployment rate of young African Americans was 28.2% in May 2013. [189] The unemployment rate reached an all-time high of 14.7% in April 2020 before falling back to 11.1% in June 2020. Due to the effects of the COVID-19 pandemic, Q2 GDP in ...
By October 2009, the unemployment rate had risen to 10.1%. [20] A broader measure of unemployment (taking into account marginally attached workers, those employed part-time for economic reasons, and some (but not all) discouraged workers) was 16.3%. [21] In July 2009, fewer jobs were lost than expected, dipping the unemployment rate from 9.5% ...
In April 2020, 138,000 Austin residents were without a job, reflecting a 12.2 percent unemployment rate; this was the highest unemployment rate recorded in the city since recordkeeping began in 1990; the previous highest was 7.8 percent in July 2009. Nearly half of the job losses between March and April 2020 were from bars, restaurants, and hotels.
Additionally as of September 2012, the long-term unemployment is the highest it had been since World War II, [84] and the unemployment rate peaked several months after the end of the recession (10.1% in October 2009) and was above 8% until September 2012 (7.8%).
Moreover, the jobless recovery of the 2001 recession, coupled with the severe economic impact of the 2007–2009 recession, caused disruptions in the labor market. In the first 12 years of the 21st century, the growth of the population has slowed and labor force participation rates generally have declined.