Unemployment rate in the U.S. - forecast 2018-2029
Forecast of the unemployment rate in the United States for fiscal years 2018 to 2029
The unemployment rate of the United States has been steadily decreasing since the 2008 financial crisis, but by 2029, it is projected that the unemployment rate will increase to 4.7 percent. This would be an increase from about four percent in 2018.
Falling unemployment
The unemployment rate, or the part of the U.S. labor force that is without a job, fell to an almost 30 year low in 2018. This is particularly notable after the 2008 financial crisis, which caused unemployment in the U.S. to soar from 4.6 percent in 2007 to 9.6 percent in 2010. Since 2010, the unemployment rate has been falling steadily, meaning that more and more people are finding work, whether that be through full-time employment or part-time employment.
U.S. unemployment in comparison
Compared to unemployment rates in the European Union, U.S. unemployment is relatively low. Greece was hit particularly hard by the 2008 financial crisis and faced a government debt crisis that sent the Greek economy into a tailspin. Due to this crisis, Greece still has the highest unemployment rate in the European Union.
Forecast of the unemployment rate in the United States for fiscal years 2018 to 2029
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| Year | Unemployment rate |
|---|---|
| 2029* | 4.7% |
| 2028* | 4.8% |
| 2027* | 4.8% |
| 2026* | 4.8% |
| 2025* | 4.8% |
| 2024* | 4.8% |
| 2023* | 4.8% |
| 2022* | 4.5% |
| 2021* | 4% |
| 2020* | 3.6% |
| 2019* | 3.6% |
| 2018 | 4% |
Source
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Statistics on "U.S. unemployment"
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