The unemployment rate in the United States dipped to 3.8% in March 2024 from the previous month's two-year high of 3.9% and surprising market expectations, which had forecasted the rate to remain unchanged. The number of unemployed individuals decreased by 29,000 to 6.4 million, while employment levels saw a significant surge, rising by 498,000 to reach 161.5 million. Additionally, the labor force participation rate increased to 62.7% from a near one-year low of 62.5% in the preceding periods, and the employment-population ratio climbed to 60.3% from 60.1%. Despite recent policy tightening measures by the Federal Reserve, the unemployment rate has remained within a narrow range of 3.7% to 3.9% since August 2023, suggesting the labor market remains strong. source: U.S. Bureau of Labor Statistics
Unemployment Rate in the United States decreased to 3.80 percent in March from 3.90 percent in February of 2024. Unemployment Rate in the United States averaged 5.70 percent from 1948 until 2024, reaching an all time high of 14.90 percent in April of 2020 and a record low of 2.50 percent in May of 1953. This page provides the latest reported value for - United States Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.
Unemployment Rate in the United States decreased to 3.80 percent in March from 3.90 percent in February of 2024. Unemployment Rate in the United States is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.