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The unemployment rate (U-3), measured as the number of persons unemployed divided by the civilian labor force, rose from 5.0% in December 2007 to peak at 10.0% in October 2009, before steadily falling to 4.7% by December 2016 and then to 3.5% by December 2019. [ 40] By August 2023, it reached 3.8 percent.
By decade's end, unemployment rates hit 15 percent. The economic downturn was particularly hard on Duluth's West Side, where ethnic Eastern and Southern European workers had lived for decades. During the 1980s, plans were underway to extend Interstate 35 through Duluth and up the North Shore, bringing new access to the city. The original plan ...
Cyclical factors, such as government stimulus or austerity policies, cause the actual unemployment rate to vary around the natural rate. Economists debate the natural rate of unemployment. During February 2011, Federal Reserve economists estimated it may have increased from the historical rate of around 5% to as high as 6.7%.
The mid-Atlantic state registered a record unemployment rate of 1.6% in September — less than half the national unemployment rate of 3.8% that month — Labor Department data shows.
Unemployment rate in January 2017: 5.2%. Unemployment rate in January 2021: 6.4%. Average weekly earnings in January 2017: $1,113. Average weekly earnings in January 2021: $1,178. YoY home value ...
ShadowStats.com. Shadowstats.com is a website that analyzes and offers alternatives to government economic statistics for the United States. Shadowstats primarily focuses on inflation, but also keeps track of the money supply, unemployment and GDP by utilizing methodologies abandoned by previous administrations from the Clinton era to the Great ...
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 249,000 for the week ended July 27, the highest level since August last year. Economists polled by Reuters ...
Thus, because trade liberalization can sometimes contribute to increases in GDP, it can help to bring the rate of unemployment down in a country. The U.S. experienced a 48% increase in real GDP from 1993 to 2005. The unemployment rate over this period was an average of only 5.1%, compared to 7.1% from 1982 to 1993, before NAFTA was implemented ...