What are the months of the year with the highest and lowest unemployment rates in the USA?

The unemployment rate for April stood at 3.9%, little changed from March, as was the number of unemployed people which registered at 6.5 million.

This unemployment rate remains within a narrow range of 3.7% to 3.9%, where unemployment figures have been hovering since August 2023. The 3.8% level tallied in March was near a half-century low.

The number of people who have been unemployed long-term, meaning they have been jobless for 27 weeks or more, was at 1.3 million, a figure essentially unchanged in April.

Total non-farm payroll employment went up by 175,000 last month, lower than the average monthly gain of 242,000 over the prior 12 months. In April, job gains took place in health care, social assistance, and in transportation and warehousing.

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What are the months of the year with the highest and lowest unemployment rates in the US?

The unemployment rate did not vary much within the past 12 months, staying within the range of 3.5% to 3.9%. The month that showed the lowest rate was July 2023, where the number was 3.5%. The latest figure from April 2024 was the highest rate, tied with February 2024 at 3.9%.

From a high of 14.7% during the height of the pandemic in April 2020, unemployment slid to below 4% in December 2021, and has stayed below this level since February 2022.

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The lower unemployment rate shows that the economy remains hardy, but at the same time stokes worries that it will cause the Federal Reserve to postpone cutting interest rates further this year.

Larger paychecks and a vigorous job market are both signs of a healthy economy, but they could also result in consumers increasing their spending, which could in turn result in higher inflation.