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The values indicate the average annual rate of change in the unemployment rate over the years in office. 1945–present data is from Bureau of Labor Statistics Labor Force Statistics; data prior to 1945 is from McElvaine's The Great Depression, Three Rivers Press (2009), Chapter 4
The government's broader U-6 unemployment rate, which includes the part-time underemployed was 8.3% in September 2017. [8] [9] Both of these rates fell steadily from 2010 to 2019; the U-3 rate was below the November 2007 level that preceded the Great Recession by November 2016, while the U-6 rate did not fully recover until August 2017. [4] [8]
The official unemployment rate in the 16 European Union (EU) countries that use the euro rose to 10% in December 2009 as a result of another recession. [152] Latvia had the highest unemployment rate in the EU, at 22.3% for November 2009. [153] Europe's young workers have been especially hard hit. [154]
Nonfarm payrolls increased by 256,000 jobs in December while the unemployment rate dropped to 4.1% from 4.2% in November.
The unemployment rate in August hit its highest level since February 2022, data from the Bureau of Labor Statistics showed Friday. But a jump in the unemployment rate to 3.8% from 3.5% might not ...
There has been considerable debate over how much a role structural unemployment plays in the persistently high unemployment rates seen in much of the world since the 2007-09 global recession. Narayana Kocherlakota , then president of the Federal Reserve Bank of Minneapolis, said in a 2010 speech that as much as 3 percent of the 9.5 percent ...
By Christopher S. Rugaber WASHINGTON (AP) -- Unemployment rates fell in three-quarters of U.S. states last month, a sign that many parts of the country are experiencing modest job gains.
Okun's law is an empirical relationship. In Okun's original statement of his law, a 2% increase in output corresponds to a 1% decline in the rate of cyclical unemployment; a 0.5% increase in labor force participation; a 0.5% increase in hours worked per employee; and a 1% increase in output per hours worked (labor productivity).