United States Unemployment Rate
The unemployment rate in the United States was last reported at 8.8 percent in March of 2011. From 1948 until 2010 the United States' Unemployment Rate averaged 5.70 percent reaching an historical high of 10.80 percent in November of 1982 and a record low of 2.50 percent in May of 1953. The labor force is defined as the number of people employed plus the number unemployed but seeking work. The nonlabour force includes those who are not looking for work, those who are institutionalized and those serving in the military. This page includes: United States Unemployment Rate chart, historical data and news.
| Country | Interest Rate | Growth Rate | Inflation Rate | Jobless Rate | Government Budget | Exchange Rate |
|---|---|---|---|---|---|---|
| United States | 0.25% | 3.10% | 2.10% | 8.80% | -8.90 | 85.0400 |
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| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2011 | 9.00 | 8.90 | 8.80 | |||||||||
| 2010 | 9.70 | 9.70 | 9.70 | 9.90 | 9.70 | 9.50 | 9.50 | 9.60 | 9.60 | 9.60 | 9.80 | 9.40 |
| 2009 | 7.70 | 8.20 | 8.60 | 8.90 | 9.40 | 9.50 | 9.40 | 9.70 | 9.80 | 10.10 | 10.00 | 10.00 |
| 2008 | 5.00 | 4.80 | 5.10 | 5.00 | 5.40 | 5.50 | 5.80 | 6.10 | 6.20 | 6.60 | 6.90 | 7.40 |
* The table above displays the monthly average.
U.S. Jobless Drops to 8.8%, Payrolls Increase by 216K in March
Published: 4/1/2011 12:39:18 PM By:
Published: 4/1/2011 12:39:18 PM By:
| U.S. Non-farm payroll employment increased by 216,000 in March, and the unemployment rate was little changed at 8.8 percent, the U.S. Bureau of Labor Statistics reported on April 1. Job gains occurred in professional and business services, health care, leisure and hospitality, and mining. Employment in manufacturing continued to trend up. The number of unemployed persons (13.5 million) and the unemployment rate (8.8 percent) changed little in March. The labor force also was little changed over the month. Since November 2010, the jobless rate has declined by 1.0 percentage point. Among the major worker groups, the unemployment rates for adult men (8.6 percent), adult women (7.7 percent), teenagers (24.5 percent), whites (7.9 percent), blacks (15.5 percent), and Hispanics (11.3 percent) showed little change in March. The jobless rate for Asians was 7.1 percent, not seasonally adjusted. The number of job losers and persons who completed temporary jobs, at 8.2 million, was little changed in March but has fallen by 1.3 million since November 2010. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.1 million in March; their share of the unemployed increased from 43.9 to 45.5 percent over the month. In March, the civilian labor force participation rate held at 64.2 percent, and the employment-population ratio, at 58.5 percent, changed little. Total non-farm payroll employment increased by 216,000 in March. Job gains occurred in several service-providing industries and in mining, and manufacturing employment continued to trend up. Since a recent low in February 2010, total payroll employment has grown by 1.5 million. In March, employment in the service-providing sector continued to expand, led by a gain of 78,000 in professional and business services. Most of the gain occurred in temporary help services (+29,000) and in professional and technical services (+35,000). Health care employment continued to increase in March (+37,000). Over the last 12 months, health care has added 283,000 jobs, or an average of 24,000 jobs per month. Employment in leisure and hospitality rose by 37,000 over the month, with more than two-thirds of the increase in food services and drinking places (+27,000). Manufacturing employment continued to trend up in March (+17,000). Job gains were concentrated in two durable goods industries--fabricated metal products (+8,000) and machinery (+5,000). Employment in durable goods manufacturing has risen by 243,000 since its most recent low in December 2009. In March, employment in mining increased by 14,000, with much of the gain occurring in support activities for mining (+9,000). Employment in local government continued to trend down over the month. Local government has lost 416,000 jobs since an employment peak in September 2008. The change in total non-farm payroll employment for January was revised from +63,000 to +68,000, and the change for February was revised from +192,000 to +194,000. | |
United States Economic News
| U.S. Jobless Drops to 8.8%, Payrolls Increase by 216K in March Published: 4/1/2011 12:39:18 PM By: Trading Economics.com, US Bureau of Labor Statistics U.S. Non-farm payroll employment increased by 216,000 in March, and the unemployment rate was little changed at 8.8 percent, the U.S. Bureau of Labor Statistics reported on April 1. Job gains occurred in professional and business services, health care, leisure and hospitality, and mining. Employment in manufacturing continued to trend up. |
| U.S. Economy Grew 3.1% in Q4 Published: 3/25/2011 1:09:30 PM By: Trading Economics.com, US Bureau of Economic Analysis Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.1 percent in the fourth quarter of 2010, (that is, from the third quarter to the fourth quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.6 percent. |
| U.S. Inflation Rises to 2.1% in February Published: 3/17/2011 12:39:32 PM By: Trading Economics.com, US Bureau of Labor Statistics U.S. Consumer Price Index for All Urban Consumers (CPI-U) increased 2.1 percent before seasonal adjustment over the last 12 months, the Bureau of Labor Statistics reported on March 17. For the month, the index increased 0.5 percent prior to seasonal adjustment. |
| Federal Reserve Leaves Rates Unchanged Published: 3/15/2011 7:06:39 PM By: Trading Economics.com, Federal Reserve The Federal Reserve maintained its ultra-loose monetary policy on Tuesday, saying the economy was gaining traction while flagging potential inflation risks from costlier energy and food. |
| U.S. Trade Deficit Widens in January Published: 3/10/2011 1:40:03 PM By: Trading Economics.com, U.S. Census Bureau U.S. trade deficit in goods and services increased to $46.3 billion in January from $40.3 billion (revised) in December, as imports increased more than exports. |
| U.S. Economy Adds 192,000 Jobs in February Published: 3/4/2011 1:40:08 PM By: Trading Economics.com, US Bureau of Labor Statistics U.S. nonfarm payroll employment increased by 192,000 in February, and the unemployment rate was little changed at 8.9 percent, the U.S. Bureau of Labor Statistics reported on March 4. Job gains occurred in manufacturing, construction, professional and business services, health care, and transportation and warehousing. |
| U.S. GDP Growth Revised Down to 2.8% in Q4 Published: 2/25/2011 1:37:23 PM By: Trading Economics.com, US Bureau of Economic Analysis U.S. real gross domestic product increased at an annual rate of 2.8 percent in the fourth quarter of 2010, (that is, from the third quarter to the fourth quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.6 percent. |
| US Inflation Rises 1.6% in January Published: 2/17/2011 1:42:16 PM By: TradingEconomics.com, U.S. Bureau of Labor Statistics US Consumer Price Index for All Urban Consumers (CPI-U) increased 1.6 percent over the last 12 months to an index level of 220.223 (1982-84=100). For the month, inflation rate increased 0.4 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported on February 17. |
| US Trade Deficit Widens in 2010 Published: 2/11/2011 1:43:43 PM By: Trading Economics.com, U.S. Census Bureau US trade deficit increased to $497.8 billion in 2010 from $374.9 billion in 2009, as imports increased more than exports. The trade deficit increased to $40.6 billion in December 2010 from $38.3 billion (revised) in November, as imports increased more than exports. |
| U.S. Unemployment Rate Drops to 9% in January Published: 2/4/2011 1:44:09 PM By: Trading Economics.com, U.S. Bureau of Labor Statistics U.S. unemployment rate fell by 0.4 percentage point to 9.0 percent in January, while nonfarm payroll employment changed little (+36,000), the U.S. Bureau of Labor Statistics reported on February 4. Employment rose in manufacturing and in retail trade but was down in construction and in transportation and warehousing. Employment in most other major industries changed little over the month. |
Unemployment Rate Definition
The labor force is defined as the number of people employed plus the number unemployed but seeking work. The participation rate is the number of people in the labor force divided by the size of the adult civilian non-institutional population (or by the population of working age that is not institutionalized). The non labor force includes those who are not looking for work, those who are institutionalized such as in prisons or psychiatric wards, stay-at home spouses, kids, and those serving in the military. The unemployment level is defined as the labor force minus the number of people currently employed. The unemployment rate is defined as the level of unemployment divided by the labor force. The employment rate is defined as the number of people currently employed divided by the adult population (or by the population of working age). In these statistics, self-employed people are counted as employed.
Variables like employment level, unemployment level, labor force, and unfilled vacancies are called stock variables because they measure a quantity at a point in time. They can be contrasted with flow variables which measure a quantity over a duration of time. Changes in the labor force are due to flow variables such as natural population growth, net immigration, new entrants, and retirements from the labour force. Changes in unemployment depend on: inflows made up of non-employed people starting to look for jobs and of employed people who lose their jobs and look for new ones; and outflows of people who find new employment and of people who stop looking for employment.
When looking at the overall macro-economy, several types of unemployment have been identified, including:
Frictional unemployment — This reflects the fact that it takes time for people to find and settle into new jobs. If 12 individuals each take one month before they start a new job, the aggregate unemployment statistics will record this as a single unemployed worker. Technological change often reduces frictional unemployment, for example: the internet made job searches cheaper and more comprehensive.
Structural unemployment — This reflects a mismatch between the skills and other attributes of the labour force and those demanded by employers. If 4 workers each take six months off to re-train before they start a new job, the aggregate unemployment statistics will record this as two unemployed workers. Technological change often increases structural unemployment, for example: technological change might require workers to re-train.
Natural rate of unemployment — This is the summation of frictional and structural unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, seeing as some frictional and structural unemployment is inevitable. Economists do not agree on the natural rate, with estimates ranging from 1% to 5%, or on its meaning — some associate it with "non-accelerating inflation". The estimated rate varies from country to country and from time to time.
Demand deficient unemployment — In Keynesian economics, any level of unemployment beyond the natural rate is most likely due to insufficient demand in the overall economy. During a recession, aggregate expenditure is deficient causing the under-utilization of inputs (including labor). Aggregate expenditure (AE) can be increased, according to Keynes, by increasing consumption spending (C), increasing investment spending (I), increasing government spending (G), or increasing the net of exports minus imports (X?M).
Variables like employment level, unemployment level, labor force, and unfilled vacancies are called stock variables because they measure a quantity at a point in time. They can be contrasted with flow variables which measure a quantity over a duration of time. Changes in the labor force are due to flow variables such as natural population growth, net immigration, new entrants, and retirements from the labour force. Changes in unemployment depend on: inflows made up of non-employed people starting to look for jobs and of employed people who lose their jobs and look for new ones; and outflows of people who find new employment and of people who stop looking for employment.
When looking at the overall macro-economy, several types of unemployment have been identified, including:
Frictional unemployment — This reflects the fact that it takes time for people to find and settle into new jobs. If 12 individuals each take one month before they start a new job, the aggregate unemployment statistics will record this as a single unemployed worker. Technological change often reduces frictional unemployment, for example: the internet made job searches cheaper and more comprehensive.
Structural unemployment — This reflects a mismatch between the skills and other attributes of the labour force and those demanded by employers. If 4 workers each take six months off to re-train before they start a new job, the aggregate unemployment statistics will record this as two unemployed workers. Technological change often increases structural unemployment, for example: technological change might require workers to re-train.
Natural rate of unemployment — This is the summation of frictional and structural unemployment. It is the lowest rate of unemployment that a stable economy can expect to achieve, seeing as some frictional and structural unemployment is inevitable. Economists do not agree on the natural rate, with estimates ranging from 1% to 5%, or on its meaning — some associate it with "non-accelerating inflation". The estimated rate varies from country to country and from time to time.
Demand deficient unemployment — In Keynesian economics, any level of unemployment beyond the natural rate is most likely due to insufficient demand in the overall economy. During a recession, aggregate expenditure is deficient causing the under-utilization of inputs (including labor). Aggregate expenditure (AE) can be increased, according to Keynes, by increasing consumption spending (C), increasing investment spending (I), increasing government spending (G), or increasing the net of exports minus imports (X?M).
