what is the lowest unemployment rate in the us history?
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The lowest unemployment rate was 1.2% in 1944. It may seem counterintuitive to think unemployment can get too low, but it can. The Federal Reserve says that the natural rate of unemployment falls between 3.5% and 4.5%.
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Labor market The unemployment rate (U-3), rose during the Great Recession to peak at 10.0%, then fell back towards full employment by the end of his two terms to 4.7%, similar to 2007 pre-crisis levels during the Bush administration.
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Shrinking labor force explains drop in unemployment. Last Friday's release of the Employment Situation report by the Bureau of Labor Statistics showed the economy added 120,000 jobs, dropping the unemployment rate to 8.6 percent. ... This means the labor market is lacking roughly 10.9 million jobs.
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Low unemployment is usually regarded as a positive sign for the economy. A very low a rate of unemployment, however, can have negative consequences, such as inflation and reduced productivity.
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If it is below the natural wage rate, then nothing changes. But if the minimum (say, $7.25 an hour) is above the natural wage (say, $6 per hour), it distorts the market. More people want jobs at $7.25 than at $6, but companies want to hire fewer employees. The result: more unemployment.
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The Congressional Budget Office estimated that the U.S. was approximately 2.5 million workers below full employment as of the end of 2015 and 1.6 million at December 31, 2016, mainly due to lower labor force participation. ... In September 2019, the U.S. unemployment rate dropped to 3.5%, near the lowest rate in 50 years.
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The U.S. economy added 263,000 jobs in April, notching a record 103 straight months of job gains and signaling the current economic expansion shows little sign of stalling. The unemployment rate fell to 3.6 percent, the Labor Department said Friday, the lowest since 1969.
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U.S. unemployment fell to 3.6 percent, lowest since 1969.
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While the state's unemployment rate of 16.31 percent is slightly lower than the record high set in April 2020, it is still far higher than the 12.3 percent it was at during the height of the Great Recession (March, October, and November 2010).
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Unemployment rate declines to 4.6 percent in November 2016. In November 2016, the unemployment rate decreased to 4.6 percent, a drop of 0.3 percentage point from the previous month. The number of people who were unemployed decreased to 7.4 million in November, a decline of 387,000 over the month.
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What the unemployment rate does not measure is those without jobs who have simply given up. "It does not include the number of people who have become discouraged and are just not looking for a job at all," Matt Mcdonald, a Republican economic analyst at Hamilton Place Strategies, said.
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The participation rate measures the percentage of Americans who are in the labor force. The unemployment rate measures the percentage within the labor force that is currently without a job. A high participation rate combined with a low unemployment rate is a sure sign of a robust job market.
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US unemployment now at 50-year lowThe unemployment rate, now at 3.5%, fell by . 2% since August. The U.S. unemployment rate fell to its lowest level in 50 years and 136,000 jobs were added in September, the Department of Labor said Friday. The unemployment rate, now at 3.5%, fell by .
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During the Great Depression, US unemployment rate rose from virtually 0% in 1929 to a peak of 25.6% in May 1933. This was the equivalent of 15 million people unemployed. Though this unemployment rate also excluded those on reduced hours or migrants/women not eligible to officially sign on for benefits.
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Production and profits declined sharply. Unemployment jumped from 14.3% in May 1937 to 19.0% in June 1938. The downturn was perhaps due to nothing more than the familiar rhythms of the business cycle, but until 1937 Roosevelt had claimed responsibility for the excellent economic performance.
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Vermont had the lowest unemployment rate in September 2019, at 2.2 percent. The rates in Alabama (3.0 percent), California (4.0 percent), Illinois (3.9 percent), New Jersey (3.1 percent), and South Carolina (2.9 percent) set new series lows. (All state series begin in 1976.)
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In December 2016, the unemployment rate in the United States was 4.7%, up from 4.6% in November 2016 but down from 5.0% in December 2015. In December 2016, 4.219 million young persons (under 25) were unemployed in the EU28, of whom 2.957 million were in the euro area.