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This is a list of events from the year 1988 in the United States. Incumbents Federal government ... The unemployment rate drops to 5.3%, the lowest level since May 1974.
Unemployment in the US by State (June 2023) The list of U.S. states and territories by unemployment rate compares the seasonally adjusted unemployment rates by state and territory, sortable by name, rate, and change. Data are provided by the Bureau of Labor Statistics in its Geographic Profile of Employment and Unemployment publication.
The unemployment rate often reaches a peak associated with a recession after the recession has officially ended. [39] Until the start of the COVID-19 recession in 2020, no post-World War II era came anywhere near the depth of the Great Depression. In the Great Depression, GDP fell by 27% (the deepest after demobilization is the recession ...
US unemployment rate, 1988–2011. Politically, the stagnant economy would doom President George H. W. Bush in the 1992 election, as Bill Clinton capitalized on economic frustration and voter fatigue after 12 years of Republican stewardship of the White House. Unemployment remained above 7% until July 1993, and above 6% until September 1994.
US unemployment rate, 1973–1993 By early 1982, Reagan's economic program was beset with difficulties as the recession that had begun in 1979 continued. In the short term, the effect of Reaganomics was a soaring budget deficit .
Unemployment rate at start of presidency Unemployment rate at end of presidency Change in unemployment rate during presidency (percentage points) Harry S. Truman (data available for 1948–1953 only) Democratic: 1945–1953 3.4% (for January 1948) 2.9% −0.5 (from January 1948 to January 1953) Dwight D. Eisenhower: Republican: 1953–1961 2.9% ...
Unemployment rates historically are lower for those groups with higher levels of education. For example, in May 2016 the unemployment rate for workers over 25 years of age was 2.5% for college graduates, 5.1% for those with a high school diploma, and 7.1% for those without a high school diploma.
US unemployment rate, 1988–2011. Early 2000 to 2001 saw the dramatic bursting of the dot-com bubble. Excitement over the prospects of Internet stocks had led to huge increases in the major indexes. However, dozens of start-up Internet companies failed as many of the lofty promises heralded by the new world of the Web failed to materialize.