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In September 2019, the U.S. unemployment rate dropped to 3.5%, near the lowest rate in 50 years. [20] On May 8, 2020, the Bureau of Labor Statistics reported that 20.5 million nonfarm jobs were lost and the unemployment rate rose to 14.7 percent in April, due to the Coronavirus pandemic in the United States .
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.
Monetary policy: The Federal Reserve conducts monetary policy, adjusting interest rates to move the economy towards a full employment target of around a 5% unemployment rate and 2% inflation rate. The Federal Reserve has maintained near-zero interest rates since the 2007–2009 recession, in efforts to boost employment.
U.S. applications for unemployment benefits jumped to their highest level in two months last week but remain low relative to historical standards. Jobless claim applications climbed by 17,000 to ...
The lowest unemployment rate was in North Dakota at just 2.7%, while New Mexico had the highest unemployment rate at 6.7%. Unemployment rates have recovered dramatically in all the states since ...
Long-term unemployment rose to a record high [12] while labor force participation fell off sharply as many of the unemployed gave up looking for work. [13] In an effort to spur economic growth, the Federal Reserve engaged in three rounds of quantitative easing, while the federal funds rate was kept near zero for an unprecedented seven years. [14]
Here’s a dive into the labor market of the state with the lowest unemployment rate in American history: ... Government employers have consistently added positions in the state over the past year ...
The average income of Americans would be more than double its current level if the economy had somehow grown at the Democratic rate for all of the past nine decades." [ 12 ] The Washington Post reported that average GDP growth under Trump for his first three years in office was 2.5%; when the COVID-19 pandemic hit in 2020, GDP for his fourth ...