50 years+ of historical inflaction, interest and unemployment rates by country

data source: https://data.worldbank.org cover image credit: https://www.pexels.com/photo/one-dollar-bill-3943739/

Graph and download economic data for Noncyclical Rate of Unemployment (NROU) from Q1 1949 to Q4 2035 about NAIRU, projection, long-term, unemployment, rate, and USA.

Unemployment Rate in the United States increased to 4.40 percent in September from 4.30 percent in August of 2025. This dataset 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.

Ireland IE: NAIRU: Equilibrium Unemployment Rate data was reported at 7.152 % in 2022. This records an increase from the previous number of 7.136 % for 2021. Ireland IE: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 8.407 % from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of 12.280 % in 1990 and a record low of 7.136 % in 2021. Ireland IE: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Ireland – Table IE.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

The Volcker Shock was a period of historically high interest rates precipitated by Federal Reserve Chairperson Paul Volcker's decision to raise the central bank's key interest rate, the Fed funds effective rate, during the first three years of his term. Volcker was appointed chairperson of the Fed in August 1979 by President Jimmy Carter, as replacement for William Miller, who Carter had made his treasury secretary. Volcker was one of the most hawkish (supportive of tighter monetary policy to stem inflation) members of the Federal Reserve's committee, and quickly set about changing the course of monetary policy in the U.S. in order to quell inflation. The Volcker Shock is remembered for bringing an end to over a decade of high inflation in the United States, prompting a deep recession and high unemployment, and for spurring on debt defaults among developing countries in Latin America who had borrowed in U.S. dollars.

Monetary tightening and the recessions of the early '80s

Beginning in October 1979, Volcker's Fed tightened monetary policy by raising interest rates. This decision had the effect of depressing demand and slowing down the U.S. economy, as credit became more expensive for households and businesses. The Fed funds rate, the key overnight rate at which banks lend their excess reserves to each other, rose as high as 17.6 percent in early 1980. The rate was allowed to fall back below 10 percent following this first peak, however, due to worries that inflation was not falling fast enough, a second cycle of monetary tightening was embarked upon starting in August of 1980. The rate would reach its all-time peak in June of 1981, at 19.1 percent. The second recession sparked by these hikes was far deeper than the 1980 recession, with unemployment peaking at 10.8 percent in December 1980, the highest level since The Great Depression. This recession would drive inflation to a low point during Volcker's terms of 2.5 percent in August 1983.

The legacy of the Volcker Shock

By the end of Volcker's terms as Fed Chair, inflation was at a manageable rate of around four percent, while unemployment had fallen under six percent, as the economy grew and business confidence returned. While supporters of Volcker's actions point to these numbers as proof of the efficacy of his actions, critics have claimed that there were less harmful ways that inflation could have been brought under control. The recessions of the early 1980s are cited as accelerating deindustrialization in the U.S., as manufacturing jobs lost in 'rust belt' states such as Michigan, Ohio, and Pennsylvania never returned during the years of recovery. The Volcker Shock was also a driving factor behind the Latin American debt crises of the 1980s, as governments in the region defaulted on debts which they had incurred in U.S. dollars. Debates about the validity of using interest rate hikes to get inflation under control have recently re-emerged due to the inflationary pressures facing the U.S. following the Coronavirus pandemic and the Federal Reserve's subsequent decision to embark on a course of monetary tightening.

Graph and download economic data for Natural Rate of Unemployment (Short-Term) (DISCONTINUED) (NROUST) from Q1 1949 to Q4 2031 about NAIRU, short-term, projection, unemployment, rate, and USA.

In 2025, it was estimated that over 163 million Americans were in some form of employment, while 4.16 percent of the total workforce was unemployed. This was the lowest unemployment rate since the 1950s, although these figures are expected to rise in 2023 and beyond. 1980s-2010s Since the 1980s, the total United States labor force has generally risen as the population has grown, however, the annual average unemployment rate has fluctuated significantly, usually increasing in times of crisis, before falling more slowly during periods of recovery and economic stability. For example, unemployment peaked at 9.7 percent during the early 1980s recession, which was largely caused by the ripple effects of the Iranian Revolution on global oil prices and inflation. Other notable spikes came during the early 1990s; again, largely due to inflation caused by another oil shock, and during the early 2000s recession. The Great Recession then saw the U.S. unemployment rate soar to 9.6 percent, following the collapse of the U.S. housing market and its impact on the banking sector, and it was not until 2016 that unemployment returned to pre-recession levels. 2020s 2019 had marked a decade-long low in unemployment, before the economic impact of the Covid-19 pandemic saw the sharpest year-on-year increase in unemployment since the Great Depression, and the total number of workers fell by almost 10 million people. Despite the continuation of the pandemic in the years that followed, alongside the associated supply-chain issues and onset of the inflation crisis, unemployment reached just 3.67 percent in 2022 - current projections are for this figure to rise in 2023 and the years that follow, although these forecasts are subject to change if recent years are anything to go by.

Norway NO: NAIRU: Equilibrium Unemployment Rate data was reported at 3.514 % in 2022. This records an increase from the previous number of 3.480 % for 2021. Norway NO: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 3.462 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 4.744 % in 1993 and a record low of 2.775 % in 1985. Norway NO: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Norway – Table NO.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

Context

The Federal Reserve sets interest rates to promote conditions that achieve the mandate set by the Congress — high employment, low and stable inflation, sustainable economic growth, and moderate long-term interest rates. Interest rates set by the Fed directly influence the cost of borrowing money. Lower interest rates encourage more people to obtain a mortgage for a new home or to borrow money for an automobile or for home improvement. Lower rates encourage businesses to borrow funds to invest in expansion such as purchasing new equipment, updating plants, or hiring more workers. Higher interest rates restrain such borrowing by consumers and businesses.

Content

This dataset includes data on the economic conditions in the United States on a monthly basis since 1954. The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. The rate that the borrowing institution pays to the lending institution is determined between the two banks; the weighted average rate for all of these types of negotiations is called the effective federal funds rate. The effective federal funds rate is determined by the market but is influenced by the Federal Reserve through open market operations to reach the federal funds rate target. The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target rate; the target rate transitioned to a target range with an upper and lower limit in December 2008. The real gross domestic product is calculated as the seasonally adjusted quarterly rate of change in the gross domestic product based on chained 2009 dollars. The unemployment rate represents the number of unemployed as a seasonally adjusted percentage of the labor force. The inflation rate reflects the monthly change in the Consumer Price Index of products excluding food and energy.

Acknowledgements

The interest rate data was published by the Federal Reserve Bank of St. Louis' economic data portal. The gross domestic product data was provided by the US Bureau of Economic Analysis; the unemployment and consumer price index data was provided by the US Bureau of Labor Statistics.

Inspiration

How does economic growth, unemployment, and inflation impact the Federal Reserve's interest rates decisions? How has the interest rate policy changed over time? Can you predict the Federal Reserve's next decision? Will the target range set in March 2017 be increased, decreased, or remain the same?

In 1990, the unemployment rate of the United States stood at 5.6 percent. Since then there have been many significant fluctuations to this number - the 2008 financial crisis left millions of people without work, as did the COVID-19 pandemic. By the end of 2022 and throughout 2023, the unemployment rate came to 3.6 percent, the lowest rate seen for decades. However, 2024 saw an increase up to four percent. For monthly updates on unemployment in the United States visit either the monthly national unemployment rate here, or the monthly state unemployment rate here. Both are seasonally adjusted. UnemploymentUnemployment is defined as a situation when an employed person is laid off, fired or quits his work and is still actively looking for a job. Unemployment can be found even in the healthiest economies, and many economists consider an unemployment rate at or below five percent to mean there is 'full employment' within an economy. If former employed persons go back to school or leave the job to take care of children they are no longer part of the active labor force and therefore not counted among the unemployed. Unemployment can also be the effect of events that are not part of the normal dynamics of an economy. Layoffs can be the result of technological progress, for example when robots replace workers in automobile production. Sometimes unemployment is caused by job outsourcing, due to the fact that employers often search for cheap labor around the globe and not only domestically. In 2022, the tech sector in the U.S. experienced significant lay-offs amid growing economic uncertainty. In the fourth quarter of 2022, more than 70,000 workers were laid off, despite low unemployment nationwide. The unemployment rate in the United States varies from state to state. In 2021, California had the highest number of unemployed persons with 1.38 million out of work.

Japan JP: NAIRU: Equilibrium Unemployment Rate data was reported at 2.858 % in 2022. This records a decrease from the previous number of 2.886 % for 2021. Japan JP: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 3.318 % from Dec 1985 (Median) to 2022, with 38 observations. The data reached an all-time high of 4.375 % in 2003 and a record low of 2.257 % in 1985. Japan JP: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Japan – Table JP.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

Unemployment Rate in France increased to 7.70 percent in the third quarter of 2025 from 7.60 percent in the second quarter of 2025. This dataset provides the latest reported value for - France Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Abstract

This dataset includes economic statistics on inflation, prices, unemployment, and pay & benefits provided by the Bureau of Labor Statistics (BLS)

Documentation

Update frequency: Monthly Dataset source: U.S. Bureau of Labor Statistics Terms of use: This dataset is publicly available for anyone to use under the following terms provided by the Dataset Source - http://www.data.gov/privacy-policy#data_policy - and is provided "AS IS" without any warranty, express or implied, from Google. Google disclaims all liability for any damages, direct or indirect, resulting from the use of the dataset. See the GCP Marketplace listing for more details and sample queries: https://console.cloud.google.com/marketplace/details/bls-public-data/bureau-of-labor-statistics

Inflation Rate in the United States increased to 3 percent in September from 2.90 percent in August of 2025. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Israel IL: NAIRU: Equilibrium Unemployment Rate data was reported at 4.181 % in 2022. This records an increase from the previous number of 4.122 % for 2021. Israel IL: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 8.909 % from Dec 1995 (Median) to 2022, with 28 observations. The data reached an all-time high of 11.761 % in 2002 and a record low of 4.106 % in 2020. Israel IL: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Israel – Table IL.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

Czech Republic CZ: NAIRU: Equilibrium Unemployment Rate data was reported at 3.891 % in 2022. This records an increase from the previous number of 3.831 % for 2021. Czech Republic CZ: NAIRU: Equilibrium Unemployment Rate data is updated yearly, averaging 6.107 % from Dec 1995 (Median) to 2022, with 28 observations. The data reached an all-time high of 7.608 % in 1999 and a record low of 3.831 % in 2020. Czech Republic CZ: NAIRU: Equilibrium Unemployment Rate data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Czech Republic – Table CZ.OECD.EO: Non-Accelerating Inflation Rate of Unemployment (NAIRU): Forecast: OECD Member: Annual. NAIRU - Equilibrium unemployment rate The equilibrium unemployment rate (code NAIRU) is estimated using a Kalman filter in a Phillips curve framework which assumes inflation expectations are anchored at the central bank’s inflation target . The NAIRU is then projected forward from the last estimated period using a simple autoregressive rule, exceptionally modified to account for recent labour market reforms, until the end of the forecasting horizon More details on methodology in Rusticelli E., Turner D. and M. C. Cavalleri (2015), Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment, OECD Economics Department Working Papers No.1231 OECD, Economics Department Working Papers: Incorporating anchored inflation expectations in the Phillips Curve and in the derivation of OECD measures of equilibrium unemployment:https://www.oecd-ilibrary.org/economics/incorporating-anchored-inflation-expectations-in-the-phillips-curve-and-in-the-derivation-of-oecd-measures-of-equilibrium-unemployment_5js1gmq551wd-en

Description:

This dataset provides key economic indicators from various countries between 2010 and 2023. The dataset includes monthly data on inflation rates, GDP growth rates, unemployment rates, interest rates, and stock market index values. The data has been sourced from reputable global financial institutions and is suitable for economic analysis, machine learning models, and forecasting economic trends.

Data Sources:

The data has been generated to simulate real-world economic conditions, mimicking information from trusted sources like: - World Bank for GDP growth and inflation data - International Monetary Fund (IMF) for macroeconomic data - OECD for labor market statistics - National Stock Exchanges for stock market index values

Columns:

1. Date: The specific date (in Year/Month/Day format) representing when the data was collected.
2. Country: The country the data pertains to (e.g., USA, Germany, Japan).
3. Inflation Rate (%): The rate of inflation for that country, showing how fast prices for goods and services are increasing.
4. GDP Growth Rate (%): The percentage growth of the country’s Gross Domestic Product (GDP), indicating economic expansion or contraction.
5. Unemployment Rate (%): The percentage of the working-age population that is unemployed.
6. Interest Rate (%): The central bank's interest rate, used to control inflation and influence the economy.
7. Stock Index Value: The value of the country’s main stock market index, reflecting the performance of the stock market.

Potential Uses: - Economic Analysis: Researchers and analysts can use this dataset to study trends in inflation, GDP growth, unemployment, and other economic factors. - Machine Learning: This dataset can be used to train models for predicting economic trends or market performance. Financial Forecasting: Investors and economists can leverage this data for forecasting market movements based on economic conditions. - Comparative Studies: The dataset allows comparisons across countries and regions, offering insights into global economic performance.

In 2024, the rate of surveyed unemployment in urban areas of China amounted to approximately 5.1 percent. The unemployment rate is expected to remain at 5.1 percent in 2025 and the following years. Monthly unemployment ranged at a level of around 5.2 percent in the third quarter of 2025. Unemployment rate in China In 2017, the National Statistics Bureau of China introduced surveyed unemployment as a new indicator of unemployment in the country. It is based on monthly surveys among the labor force in urban areas of China. Surveyed unemployment replaced registered unemployment figures, which were often criticized for missing out large parts of the urban labor force and thereby not presenting a true picture of urban unemployment levels. However, current unemployment figures still do not include rural areas.A main concern in China’s current state of employment lies within the large regional differences. As of 2021, the unemployment rate in northeastern regions of China was notably higher than in China’s southern parts. In Beijing, China’s political and cultural center, registered unemployment ranged at around 3.2 percent for 2021. Indicators of economic activities Apart from the unemployment rate, most commonly used indicators to measure economic activities of a country are GDP growth and inflation rate. According to an IMF forecast, GDP growth in China will decrease to about four percent in 2025, after five percent in 2023, depicting a decrease of more than six percentage points from 10.6 percent in 2010. Quarterly growth data published by the National Bureau of Statistics indicated 5.4 percent GDP growth for the first quarter of 2025.

This statistic shows the unemployment rate of Iran from 1999 to 2024. In 2024, Iran's unemployment rate was estimated to amount to 9.19 percent of the total labor force. Employment and economy in Iran Iran’s unemployment rate has been above 10 percent for the last 10 years, and this rate is estimated to have peaked in 2014, when estimates reached 14 percent. Also, many of those who are considered employed in Iran are also considered underemployed. Unemployment in Iran is especially high among young people and women; over 70 percent of the population’s close to 80 million inhabitants are of working age, increasing the overall demand of these inhabitants for work. Iran’s economy has also been in a recession, which has exacerbated the difficulties to meet the employment demands of its inhabitants. Although the economy is expected to recover slightly in 2014, Iran's GDP is expected to decrease and the real GDP growth rate is either negative or quite low. In times of a struggling economy, it is typically more difficult to create jobs and introduce people to the labor force. Because Iran's economic activity still depends to a large extent on oil revenues, this also reduces the stability of the economy and employment. With a decreasing per capita GDP and a high inflation rate people are also more vulnerable to changes in income and employment, making the unemployment a pressing issue that the country will have to manage.

Unemployment Rate in China decreased to 5.10 percent in October from 5.20 percent in September of 2025. This dataset provides - China Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.