The US unemployment rate fell to 8.4 percent in August of 2020 from 10.2 percent in the previous month, below market expectations of 9.8 percent, and marking the 4th straight decline after April's all-time high of 14.7 percent. The number of unemployed persons dropped by 2.8 million to 13.6 million, as many businesses continued to rehire employees following coronavirus lockdowns. Still, the jobless rate remains well above 3.5 percent in February, before the pandemic hit but lower than the 2008/2009 Global Financial Crisis peak of 10 percent. Official figures still may be far off the reality as many people are being classified as employed even though they are absent from work.

Unemployment Rate in the United States averaged 5.76 percent from 1948 until 2020, reaching an all time high of 14.70 percent in April of 2020 and a record low of 2.50 percent in May of 1953. This page provides the latest reported value for - United States Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: U.S. Bureau of Labor Statistics