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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% ...
Ford’s presidency, which lasted just 895 days, saw the second-highest rate of unemployment — second only to George W. Bush, who served during the Great Recession.
The unemployment rate (U-3), measured as the number of persons unemployed divided by the civilian labor force, rose from 5.0% in December 2007 to peak at 10.0% in October 2009, before steadily falling to 4.7% by December 2016 and then to 3.5% by December 2019. [ 40 ] By August 2023, it reached 3.8 percent.
Jobs created during U.S. presidential terms. Politicians and pundits frequently refer to the ability of the president of the United States to "create jobs" in the U.S. during his term in office. [1] The numbers are most often seen during the election season or in regard to a president's economic legacy. The numbers typically used and most ...
This expansion was followed by a short recession, triggered in part by the Federal Reserve's decision to combat rising prices by raising interest rates. Jul 1980– Jul 1981 12 +2.0% +4.4%: This short period of growth saw unemployment remain relatively high, particularly among manufacturing and construction workers, never dropping below 7.2%.
The youth unemployment rate was 18.5% in July 2009, the highest rate in that month since 1948. [190] The unemployment rate of young African Americans was 28.2% in May 2013. [191] The unemployment rate reached an all-time high of 14.7% in April 2020 before falling back to 11.1% in June 2020.
The U.S. unemployment rate by education level The line chart shows the long-term decline in labor force participation for males of prime-working age (25–54 years), based on educational attainment. [36] Workers with higher levels of education face considerably lower rates of unemployment.
US unemployment rate, 1973–1993. The United States entered recession in January 1980 and returned to growth six months later in July 1980. [1] Although recovery took hold, the unemployment rate remained unchanged through the start of a second recession in July 1981. [2] The downturn ended 16 months later, in November 1982. [1]