Unemployment Rate
UNRATELatest Value
Date: 2026-05-01
Data Count
940recordsData from FRED source
Basic Info
Country: US
Frequency: monthly
Source: FRED
Next Release
06/17 18:00 JSTPeriod: Jun Meeting
Trend Chart (Line)
Historical Trend Data
| Date | Value (%) | MoM (Change) | YoY (Change) | 3-Month MA |
|---|---|---|---|---|
| 2026-05-01 | 4.3 | 0.00% | +2.38% | 4.3 |
| 2026-04-01 | 4.3 | 0.00% | +2.38% | 4.33 |
| 2026-03-01 | 4.3 | -2.27% | +2.38% | 4.33 |
| 2026-02-01 | 4.4 | +2.33% | +10.00% | 4.37 |
| 2026-01-01 | 4.3 | -2.27% | +4.88% | 4.4 |
| 2025-12-01 | 4.4 | -2.22% | +4.76% | 4.43 |
| 2025-11-01 | 4.5 | +2.27% | +9.76% | 4.4 |
| 2025-09-01 | 4.4 | +2.33% | +7.32% | 4.33 |
| 2025-08-01 | 4.3 | 0.00% | +2.38% | 4.23 |
| 2025-07-01 | 4.3 | +4.88% | +2.38% | 4.23 |
| 2025-06-01 | 4.1 | -4.65% | 0.00% | 4.2 |
| 2025-05-01 | 4.3 | +2.38% | +10.26% | 4.23 |
| 2025-04-01 | 4.2 | 0.00% | +7.69% | 4.2 |
| 2025-03-01 | 4.2 | 0.00% | +7.69% | 4.13 |
| 2025-02-01 | 4.2 | +5.00% | +7.69% | 4.1 |
| 2025-01-01 | 4 | -2.44% | +8.11% | 4.1 |
| 2024-12-01 | 4.1 | -2.38% | +7.89% | 4.13 |
| 2024-11-01 | 4.2 | +2.44% | +13.51% | 4.13 |
| 2024-10-01 | 4.1 | 0.00% | +5.13% | 4.13 |
| 2024-09-01 | 4.1 | -2.38% | +10.81% | 4.17 |
| 2024-08-01 | 4.2 | 0.00% | +13.51% | 4.17 |
| 2024-07-01 | 4.2 | +2.44% | +20.00% | 4.07 |
| 2024-06-01 | 4.1 | +5.13% | +13.89% | 3.97 |
| 2024-05-01 | 3.9 | 0.00% | +8.33% | 3.9 |
| 2024-04-01 | 3.9 | 0.00% | +14.71% | 3.9 |
| 2024-03-01 | 3.9 | 0.00% | +11.43% | 3.83 |
| 2024-02-01 | 3.9 | +5.41% | +8.33% | 3.8 |
| 2024-01-01 | 3.7 | -2.63% | +5.71% | 3.73 |
| 2023-12-01 | 3.8 | +2.70% | +8.57% | 3.8 |
| 2023-11-01 | 3.7 | -5.13% | +2.78% | 3.77 |
| 2023-10-01 | 3.9 | +5.41% | +8.33% | 3.77 |
| 2023-09-01 | 3.7 | 0.00% | +5.71% | 3.63 |
| 2023-08-01 | 3.7 | +5.71% | +2.78% | 3.6 |
| 2023-07-01 | 3.5 | -2.78% | 0.00% | 3.57 |
| 2023-06-01 | 3.6 | 0.00% | 0.00% | 3.53 |
| 2023-05-01 | 3.6 | +5.88% | 0.00% | 3.5 |
| 2023-04-01 | 3.4 | -2.86% | -8.11% | 3.5 |
| 2023-03-01 | 3.5 | -2.78% | -5.41% | 3.53 |
| 2023-02-01 | 3.6 | +2.86% | -7.69% | 3.53 |
| 2023-01-01 | 3.5 | 0.00% | -12.50% | 3.53 |
| 2022-12-01 | 3.5 | -2.78% | -10.26% | 3.57 |
| 2022-11-01 | 3.6 | 0.00% | -12.20% | 3.57 |
| 2022-10-01 | 3.6 | +2.86% | -20.00% | 3.57 |
| 2022-09-01 | 3.5 | -2.78% | -25.53% | 3.53 |
| 2022-08-01 | 3.6 | +2.86% | -29.41% | 3.57 |
| 2022-07-01 | 3.5 | -2.78% | -35.19% | 3.57 |
| 2022-06-01 | 3.6 | 0.00% | -38.98% | 3.63 |
| 2022-05-01 | 3.6 | -2.70% | -37.93% | 3.67 |
| 2022-04-01 | 3.7 | 0.00% | -39.34% | 3.77 |
| 2022-03-01 | 3.7 | -5.13% | -39.34% | 3.87 |
| 2022-02-01 | 3.9 | -2.50% | -37.10% | 3.93 |
| 2022-01-01 | 4 | +2.56% | -37.50% | 4 |
| 2021-12-01 | 3.9 | -4.88% | -41.79% | 4.17 |
| 2021-11-01 | 4.1 | -8.89% | -38.81% | 4.43 |
| 2021-10-01 | 4.5 | -4.26% | -34.78% | 4.77 |
| 2021-09-01 | 4.7 | -7.84% | -39.74% | 5.07 |
| 2021-08-01 | 5.1 | -5.56% | -39.29% | 5.47 |
| 2021-07-01 | 5.4 | -8.47% | -47.06% | 5.7 |
| 2021-06-01 | 5.9 | +1.72% | -46.36% | 5.93 |
| 2021-05-01 | 5.8 | -4.92% | -56.06% | 6 |
About Indicator
Explanation
What is the Unemployment Rate (UNRATE)?
The Unemployment Rate measures the percentage of the labor force that is currently jobless and actively seeking employment in the US. It represents a widely referenced reflection of overall labor market health.
Viewpoints on this Indicator
The direction (up or down) of the unemployment rate is highly significant. It must be evaluated alongside the Labor Force Participation Rate. The Fed monitors it closely to decide on interest rate hikes or cuts.
Importance
HighView Details
Deep Dive
Although the unemployment rate is typically considered a lagging indicator (reacting after changes in economic activity), it heavily sways monetary policy and market sentiment. Historically low unemployment signals an exceptionally tight job market, raising wage inflation pressures.
When the unemployment rate drops too low, the Fed is likely to maintain high interest rates or raise them to tame inflation. This can increase bond yields and drive dollar strength. Conversely, if unemployment rises, the Fed will move toward rate cuts to prevent recession.
A common pitfall is assuming that any drop in unemployment is positive. If job seekers drop out of the labor force out of frustration, the unemployment rate falls artificially. Checking the Participation Rate is crucial to avoid this misconception.
Key Checkpoints in Data
Key Checkpoints
- Whether the rate rose or fell compared to the previous month.
- If there was an unexpected gap against market forecasts.
- If the broader U-6 Rate is moving in the same direction.
- Whether the decline was driven by a drop in the Labor Force Participation Rate.
- If the rise matches historical thresholds that signal the onset of a recession.
Connection with Associated Indicators
Why Look at Associated Indicators Together
| Associated Indicator | Why to Look Together |
|---|---|
| Non-Farm Payrolls | To cross-reference actual payroll changes with shifts in the unemployment rate to find true job market strength. |
| Labor Force Participation Rate | To confirm if a drop in unemployment is genuine or merely caused by discouraged workers exiting the labor market. |
| U-6 Unemployment Rate | To evaluate a broader scope of labor underutilization, including underemployed part-time workers. |
One-Line Summary for Beginners
The Unemployment Rate shows the percentage of people looking for work who cannot find it. However, because it ignores those who gave up searching, the Labor Force Participation Rate must be reviewed alongside it.
Last Fetched: 6/5/2026, 6:34:25 PM
Flow of Analysis: FOMC Policy Decision
🔍1. Before (Leading)
Check these leading indicators a few days before to gauge expectations.
📊2. During (Core Values)
Check the headline and core figures at the moment of release.
⚡3. After (Market Reactions)
Track reactions in yields, currencies, and major stock indexes.