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.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-08 01:30 PM
Unemployment Rate
Feb 3.9% 3.7% 3.7% 3.7%
2024-04-05 12:30 PM
Unemployment Rate
Mar 3.8% 3.9% 3.9% 3.9%
2024-05-03 12:30 PM
Unemployment Rate
Apr 3.8% 3.8% 3.8%

Components Last Previous Unit Reference
Long Term Unemployment Rate 0.74 0.72 percent Mar 2024
Youth Unemployment Rate 8.80 8.80 percent Mar 2024

Related Last Previous Unit Reference
Average Hourly Earnings MoM 0.30 0.20 percent Mar 2024
Average Hourly Earnings YoY 4.10 4.30 percent Mar 2024
Average Weekly Hours 34.40 34.30 Hours Mar 2024
Employment Rate 60.30 60.10 percent Mar 2024
Government Payrolls 71.00 63.00 Thousand Mar 2024
Participation Rate 62.70 62.50 percent Mar 2024
Manufacturing Payrolls 0.00 -10.00 Thousand Mar 2024
Non Farm Payrolls 303.00 270.00 Thousand Mar 2024
Nonfarm Payrolls Private 232.00 207.00 Thousand Mar 2024
Unemployed Persons 6429.00 6458.00 Thousand Mar 2024
Unemployment Rate 3.80 3.90 percent Mar 2024

United States Unemployment Rate
In the United States, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.90 14.90 2.50 1948 - 2024 percent Monthly

News Stream
US Jobless Rate Unexpectedly Falls to 3.8%
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.
2024-04-05
US Jobless Rate Rises to 2-Year High
The unemployment rate in the United States rose by 0.2 percentage point to 3.9% in February 2024, touching the highest level since January 2022 and surpassing market expectations of 3.7%. The number of unemployed people increased by 334,000 to 6.5 million. The labor force participation rate was 62.5% for the third consecutive month, and the employment-population ratio was little changed at 60.1%.
2024-03-08
US Jobless Rate Unchanged for 2nd Straight Month
The unemployment rate in the United States held at 3.7% in January 2024, unchanged from the previous month and slightly below the market consensus of 3.8%. The activity rate was also flat at 62.5% last month, remaining at the lowest level since February 2023. The number of unemployed individuals decreased by 144 thousand to 6.12 million, while the count of employed individuals dropped by 31 thousand to 161.15 million.
2024-02-02