UNRATEUnemployment Rate (UNRATE) — Current Value & Historical Data
Unemployment Rate (UNRATE) Chart & Data Table
Gray bands: NBER recessions
What is Unemployment Rate (UNRATE)?
The unemployment rate is the share of the U.S. civilian labor force that is jobless and actively looking for work, published monthly by the Bureau of Labor Statistics in the Employment Situation report. It is the headline U-3 measure — one of six rates the BLS publishes, from the narrow U-1 to the broader U-6 that also counts underemployed part-time and marginally attached workers. The figure is not drawn from unemployment-insurance filings; it is estimated from the Current Population Survey, a monthly survey of roughly 60,000 households conducted for the BLS by the Census Bureau, which classifies each adult as employed, unemployed, or outside the labor force based on activity during the week containing the 12th. The report lands on the first Friday of each month at 8:30 a.m. ET and is among the most market-moving releases of the cycle. The rate touched 24.9% at the depths of the Great Depression in 1933 and a postwar high of 14.7% in April 2020 during the COVID-19 shutdown; it fell to 3.4% in early 2023, the lowest level since 1969, before drifting modestly higher as post-pandemic labor-market tightness eased. Economists put the natural rate of unemployment — the level consistent with stable inflation — near 4.0 to 4.5%, and the closely watched Sahm Rule flags the likely onset of a recession when the three-month-average rate rises half a percentage point above its prior-year low.
Current Unemployment Rate (UNRATE) Value
As of June 1, 2026, the current unemployment rate is 4.20 Percent. This is the most recent observation available for this series, updated monthly.
Unemployment Rate Historical Trend
Unemployment Rate fell 2.33% month-over-month. Over the past year, unemployment rate fell 2.33% from May 2025. In the series' tracked history, the highest recorded value was 14.80 (April 2020), and the lowest was 2.50 (May 1953).
Why Unemployment Rate matters for government spending
For the federal budget, the unemployment rate is a spending and deficit signal as much as a labor statistic. When joblessness rises, outlays climb automatically — unemployment-insurance benefits, Medicaid, and SNAP are 'automatic stabilizers' that expand without any new act of Congress — while income- and payroll-tax receipts fall as fewer people earn wages. The Congressional Budget Office estimates that each percentage point of higher unemployment widens the deficit by well over $200 billion a year through these channels combined, which is why a rising rate pushes the federal deficit higher before lawmakers debate any new stimulus.
Methodology & Source
Source
Bureau of Labor Statistics
Frequency
Monthly
Units
Percent
Notes
The unemployment rate represents the number of unemployed as a percentage of the labor force. Labor force data are restricted to people 16 years of age and older, who currently reside in 1 of the 50 states or the District of Columbia, who do not reside in institutions (e.g., penal and mental facilit...
Frequently Asked Questions About Unemployment Rate (UNRATE)
What is the current unemployment rate?
As of June 1, 2026, unemployment rate stands at 4.20 Percent.
Where does unemployment rate data come from?
Unemployment Rate data is sourced from the Federal Reserve Economic Data (FRED) system and related U.S. government agencies. Data quality and historical coverage vary by series.
How often is unemployment rate updated?
This series is updated according to its publication schedule. Check FRED or the source agency for the most current release calendar.
What is the historical high and low for unemployment rate?
In the available data, the highest value was 14.80 Percent in April 2020, and the lowest was 2.50 Percent in May 1953.
How has unemployment rate changed over the past year?
Over the past year, unemployment rate decreased 2.33%.
See Unemployment Rate in context
UNRATE is tracked on the Labor Market dashboard, alongside related indicators and historical context.
View the Labor Market dashboard →Related government-spending dashboards
How Unemployment Rate connects to the federal budget across GOVSPENDING.ORG:
Federal Debt
Total public debt, debt held by the public, and intragovernmental holdings.
Receipts vs Outlays
Federal revenue, spending, and the resulting surplus or deficit over time.
Congressional Activity
Recent legislation, appropriations, and fiscal-related bills in Congress.
Interest Expense vs Revenue
How rising debt service costs crowd out federal spending as a share of receipts over time.
Revenue Composition
Federal receipts broken down by source — individual income, corporate, social insurance, excise taxes, and customs duties as shares of total revenue.
Agency Spending (FY 2019 vs FY 2024)
Net outlays by federal agency for FY 2019 and FY 2024, from the Treasury Monthly Treasury Statement. Both nominal and inflation-adjusted comparisons.
Related Indicators
Compare Unemployment Rate with related indicators
See how Unemployment Rate stacks up against related series in a side-by-side chart and explainer:
U-3 vs U-6 Unemployment Rate
The headline U-3 rate counts only the jobless who are actively looking. U-6 also counts underemployed and marginally attached workers — a broader gauge of labor-market slack.
Nonfarm Payrolls vs Unemployment Rate
Nonfarm payrolls (NFP) and the unemployment rate come from two different surveys released together. They usually agree — but when they diverge, that divergence is the story.
Labor Force Participation vs Unemployment
The unemployment rate only counts people actively looking for work. Labor force participation shows how many adults are in the pool to begin with — and it can fall even while unemployment drops.
Initial Jobless Claims vs Unemployment Rate
Initial jobless claims are weekly, the unemployment rate is monthly. Claims tend to turn first at cycle inflections, making the pair a timely and lagging view on the same underlying labor market.
Unemployment Rate vs CPI (Phillips Curve)
The Phillips Curve hypothesis: low unemployment leads to higher wages and then higher inflation; high unemployment cools both. The history is more complicated.