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Unemployment Rate

What does the unemployment rate tell you?

At its most basic level, the unemployment rate tells you whether the job market is getting worse or better. That’s important because with a growing number of people out of work, you’re likely to see a drop in consumer spending, the fuel that powers more than two-thirds of the economy. Rising unemployment also suggests that businesses are pessimistic and reducing labor costs rather than investing in expansion.

The official U.S. unemployment rate, which is tracked by the Bureau of Labor Statistics, stood at 8.5 percent in March, its highest level since reaching double digits during the recession of the early 1980s. (The rate hit 25 percent during the Great Depression.) The statistic may not give you the full picture of unemployed Americans — it doesn’t count unemployed people who have stopped looking for work or part-timers who want full-time jobs, for example — but it is useful for judging at a high level whether employment is increasing or declining.

Consult the following links for more about the unemployment rate and what it might mean to you.

Editor's Pick

  • Behind the Number

    Learn how the Bureau of Labor Statistics arrives at the unemployment rate, and what officially qualifies someone as being out of work. Plus, find a link to the latest government data.

  • The Unemployment Rate Explained

    An explanation of how the unemployment rate is compiled, and what it does and doesn't tell you.

  • What Lies Ahead

    Bloomberg News surveys economists about the outlook for unemployment and the economy, and the results are sobering.

  • The Challenge for New Workers

    High unemployment makes it especially tough to crack the job market if you’re just getting out of school.

  • Coping With Unemployment

    From executive coaches to college professors, six experts offer ideas for what to do if you lose your job.

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  • State Unemployment Rates: A Small Victory For Little Rhody

    I used to live in Rhode Island, which is why I still take an interest in what's happening there. Little Rhody has gotten crushed in the recession. The last vestiges of its manufacturing base have been vaporized and the contraction in housing have contributed to the state's dismal employment...

    Blog posts | Nov 20, 2009

  • Why Employment Might Not Fully Recover Until 2013

    The most recent employment report shows the unemployment rate at 10.2 percent, and the broader  unemployment rate that accounts for part-time work and discouraged workers at 17.5 percent. With numbers like these, can we expect good news on the employment front anytime soon? Historically, a...

    Blog posts | Nov 10, 2009

  • Whose Recovery Is This?

    Like most recoveries, this has been an uneven one. Wall Street, women, and older workers are thriving, while Main Street, men, and younger workers are simply surviving. Our scorecard shows some of the recovery?s biggest winners and losers so far. Here’s another option: Just ask him to...

    Articles | Nov 5, 2009

  • 10.2% Unemployment: 1983 and 2009

    I love this chart from this morning's Wall Street Journal. It's a quick comparison between today and 1983, which was the last time the unemployment rate was 10.2% (and the last time I was considered a formidable power forward on the basketball court). The unemployment rate's the same, the...

    Blog posts | Nov 9, 2009

  • Ask the Experts: What Jobless Rate Tells Us

    Unemployment keeps rising, but the MoneyWatch editors remind us that jobs are a lagging indicator. Plus: Productivity soars; housing near bottom.

    Videos | Nov 10, 2009

  • Job Forecast: 2010

    Unemployment will probably hover around 10 percent for a year, says Moody's Economy.com's Mark Zandi - but, he adds, the economy is moving in the right direction.

    Videos | Nov 2, 2009

  • Mixed Signs in Jobless Data

    First-time unemployment claims fall to the lowest level in 10 months, but the unemployment rate is still likely to top 10 percent by year's end.

    Videos | Oct 8, 2009

  • Unemployment Rate Jumps to 26-year High

    With nearly 7 million jobs lost, the unemployment rate, now at 9.7%, is expected to continue rising.

    Videos | Sep 4, 2009

  • Unemployment: Emotional Cost Behind the Figures

    Scene: Corporate elevator Employee #1: "Monday morning-ugh!" Employee #2: "I'm so happy to still have my job that I can't even complain about Mondays!" As economists focus on signs of economic recovery and investors rejoice in stock market gains, there's a nagging sense among many that...

    Blog posts | Jul 21, 2009

  • 5 Things That Could Kill the Housing Recovery

    The recession can’t end until housing bounces back. There are many small signs of hope — and five big reasons to be cautious. Some Wall Street pros have looked at recent numbers and divined that housing is just about at the bottom. In May, for example, home resales...

    Articles | Jul 8, 2009

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