The inflation rate in the United States declined significantly between June 2022 and May 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at *** percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at **** percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to **** percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was ****** percent, up from ****** a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

Unemployment Rate in the United States increased to 4.20 percent in July from 4.10 percent in June 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.

The U.S. federal funds effective rate underwent a dramatic reduction in early 2020 in response to the COVID-19 pandemic. The rate plummeted from 1.58 percent in February 2020 to 0.65 percent in March, and further decreased to 0.05 percent in April. This sharp reduction, accompanied by the Federal Reserve's quantitative easing program, was implemented to stabilize the economy during the global health crisis. After maintaining historically low rates for nearly two years, the Federal Reserve began a series of rate hikes in early 2022, with the rate moving from 0.33 percent in April 2022 to 5.33 percent in August 2023. The rate remained unchanged for over a year, before the Federal Reserve initiated its first rate cut in nearly three years in September 2024, bringing the rate to 5.13 percent. By December 2024, the rate was cut to 4.48 percent, signaling a shift in monetary policy in the second half of 2024. In January 2025, the Federal Reserve implemented another cut, setting the rate at 4.33 percent, which remained unchanged throughout the following months. What is the federal funds effective rate? The U.S. federal funds effective rate determines the interest rate paid by depository institutions, such as banks and credit unions, that lend reserve balances to other depository institutions overnight. Changing the effective rate in times of crisis is a common way to stimulate the economy, as it has a significant impact on the whole economy, such as economic growth, employment, and inflation. Central bank policy rates The adjustment of interest rates in response to the COVID-19 pandemic was a coordinated global effort. In early 2020, central banks worldwide implemented aggressive monetary easing policies to combat the economic crisis. The U.S. Federal Reserve's dramatic reduction of its federal funds rate - from 1.58 percent in February 2020 to 0.05 percent by April - mirrored similar actions taken by central banks globally. While these low rates remained in place throughout 2021, mounting inflationary pressures led to a synchronized tightening cycle beginning in 2022, with central banks pushing rates to multi-year highs. By mid-2024, as inflation moderated across major economies, central banks began implementing their first rate cuts in several years, with the U.S. Federal Reserve, Bank of England, and European Central Bank all easing monetary policy.

According to a December 2022 report, the financial technology and technology industries saw the highest increases in job cuts when compared with the previous year. The financial technology (FinTech) industry saw a ******* percent increase in job cuts in 2022. FinTech companies are those using non-traditional financial methods to deliver financial services such as AI, blockchain, cloud computing, and big data. The FinTech industry saw boom during the early days of the pandemic, driven by low interest rates and tight financial conditions for consumers.

Graph and download economic data for Layoffs and Discharges: Total Nonfarm (JTSLDR) from Dec 2000 to Jun 2025 about discharges, layoffs, nonfarm, and USA.

Challenger Job Cuts in the United States increased to 62075 Persons in July from 47999 Persons in June of 2025. This dataset provides the latest reported value for - United States Challenger Job Cuts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Producer Price Index by Industry: Cut and Sew Apparel Contractors: Primary Products (PCU315210315210P) from Dec 2011 to Jun 2025 about sewing, contractors, primary, apparel, PPI, industry, inflation, price index, indexes, price, and USA.

Employment Rate in the United States decreased to 59.60 percent in July from 59.70 percent in June of 2025. This dataset provides - United States Employment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Policy interest rates in the U.S. and Europe are forecasted to decrease gradually between 2024 and 2027, following exceptional increases triggered by soaring inflation between 2021 and 2023. The U.S. federal funds rate stood at **** percent at the end of 2023, the European Central Bank deposit rate at **** percent, and the Swiss National Bank policy rate at **** percent. With inflationary pressures stabilizing, policy interest rates are forecast to decrease in each observed region. The U.S. federal funds rate is expected to decrease to *** percent, the ECB refi rate to **** percent, the Bank of England bank rate to **** percent, and the Swiss National Bank policy rate to **** percent by 2025. An interesting aspect to note is the impact of these interest rate changes on various economic factors such as growth, employment, and inflation. The impact of central bank policy rates The U.S. federal funds effective rate, crucial in determining the interest rate paid by depository institutions, experienced drastic changes in response to the COVID-19 pandemic. The subsequent slight changes in the effective rate reflected the efforts to stimulate the economy and manage economic factors such as inflation. Such fluctuations in the federal funds rate have had a significant impact on the overall economy. The European Central Bank's decision to cut its fixed interest rate in June 2024 for the first time since 2016 marked a significant shift in attitude towards economic conditions. The reasons behind the fluctuations in the ECB's interest rate reflect its mandate to ensure price stability and manage inflation, shedding light on the complex interplay between interest rates and economic factors. Inflation and real interest rates The relationship between inflation and interest rates is critical in understanding the actions of central banks. Central banks' efforts to manage inflation through interest rate adjustments reveal the intricate balance between economic growth and inflation. Additionally, the concept of real interest rates, adjusted for inflation, provides valuable insights into the impact of inflation on the economy.

In 2023, it was estimated that over 161 million Americans were in some form of employment, while 3.64 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.

Graph and download economic data for Hires: Total Nonfarm (JTSHIR) from Dec 2000 to Jun 2025 about hires, nonfarm, and USA.

The seasonally-adjusted national unemployment rate is measured on a monthly basis in the United States. In February 2025, the national unemployment rate was at 4.1 percent. Seasonal adjustment is a statistical method of removing the seasonal component of a time series that is used when analyzing non-seasonal trends. U.S. monthly unemployment rate According to the Bureau of Labor Statistics - the principle fact-finding agency for the U.S. Federal Government in labor economics and statistics - unemployment decreased dramatically between 2010 and 2019. This trend of decreasing unemployment followed after a high in 2010 resulting from the 2008 financial crisis. However, after a smaller financial crisis due to the COVID-19 pandemic, unemployment reached 8.1 percent in 2020. As the economy recovered, the unemployment rate fell to 5.3 in 2021, and fell even further in 2022. Additional statistics from the BLS paint an interesting picture of unemployment in the United States. In November 2023, the states with the highest (seasonally adjusted) unemployment rate were the Nevada and the District of Columbia. Unemployment was the lowest in Maryland, at 1.8 percent. Workers in the agricultural and related industries suffered the highest unemployment rate of any industry at seven percent in December 2023.

Bureau of Labor Statistics Pacific Rim - Import Price Index by Origin (NAICS): Cut and Sew Apparel Manufacturing for Pacific Rim was 102.00000 Index 2010=100 in June of 2025, according to the United States Federal Reserve. Historically, Bureau of Labor Statistics Pacific Rim - Import Price Index by Origin (NAICS): Cut and Sew Apparel Manufacturing for Pacific Rim reached a record high of 109.10000 in July of 2023 and a record low of 98.20000 in May of 2013. Trading Economics provides the current actual value, an historical data chart and related indicators for Bureau of Labor Statistics Pacific Rim - Import Price Index by Origin (NAICS): Cut and Sew Apparel Manufacturing for Pacific Rim - last updated from the United States Federal Reserve on July of 2025.

The central bank provides interest rates for banks to carry out various forms of financing operations, such as rediscounting qualified bills, short-term financing, and secured loan refinancing.

Bureau of Labor Statistics Latin America - Import Price Index by Origin (NAICS): Cut and Sew Apparel Manufacturing for Latin America was 104.70000 Index 2010=100 in June of 2025, according to the United States Federal Reserve. Historically, Bureau of Labor Statistics Latin America - Import Price Index by Origin (NAICS): Cut and Sew Apparel Manufacturing for Latin America reached a record high of 110.50000 in December of 2022 and a record low of 96.30000 in January of 2013. Trading Economics provides the current actual value, an historical data chart and related indicators for Bureau of Labor Statistics Latin America - Import Price Index by Origin (NAICS): Cut and Sew Apparel Manufacturing for Latin America - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for All Employees, Manufacturing (MANEMP) from Jan 1939 to Jun 2025 about headline figure, establishment survey, manufacturing, employment, and USA.

United States Consumer Price: Average: Chops, Center Cut, Bone in data was reported at 3.799 USD/lb in Sep 2018. This records a decrease from the previous number of 3.843 USD/lb for Aug 2018. United States Consumer Price: Average: Chops, Center Cut, Bone in data is updated monthly, averaging 3.269 USD/lb from Jan 1980 (Median) to Sep 2018, with 465 observations. The data reached an all-time high of 4.414 USD/lb in Sep 2014 and a record low of 1.802 USD/lb in May 1980. United States Consumer Price: Average: Chops, Center Cut, Bone in data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.P001: Consumer Price.

In 2024, over 25,000 job losses were accounted for in the U.S. media industry, down by 30 percent compared to a year prior. The media industry in the United States has been deeply impacted by the pandemic and the following inflation, as well as the introduction of Generative AI technologies, resulting in an increasing number of layoffs. While about 10,000 job cuts in media were reported in 2019, that value had tripled the following year.

The Inflation Reduction Act of 2022 (IRA) became law on August 8, 2022. Under the law, new qualifying renewable and/or carbon-free electricity generation projects constructed in certain areas of the US, called energy communities, are eligible for bonus worth an additional 10% to the value of the production tax credit or a 10 percentage point increase in the value of the investment tax credit. The IRA does not explicitly map or list these specific communities. Instead, eligible communities are defined by a series of qualifications:

a brownfield site,

a metropolitan statistical area (MSA) or non-metropolitan statistical area with either (a) 0.17% or greater employment or (b) 25% or greater local tax revenues related to the extraction, processing, transport, or storage of coal, oil, or natural gas; and an unemployment rate at or above the national average for the previous year, or

a census tract containing or adjacent to (a) a coal mine closed after December 31, 1999 or (b) a coal-fired electric generating unit retired after December 31, 2009.

These maps and data layers contain GIS data for coal mines, coal-fired power plants, fossil energy related employment, and brownfield sites. Each record represents a point, tract or metropolitan statistical area and non-metropolitan statistical area with attributes including plant type, operating information, GEOID, etc. The input data used includes:

Brownfields – Source: EPA. No analysis was performed on this data layer. However, tract polygon layers have a column denoting brownfield presence (0 for no brownfield site, 1 if the tract contains a brownfield somewhere within the polygon).

Eligible Employment MSAs (“Final_Employment_Qualifying_MSAs”) – Source: US Census County Business Patterns. MSAs and non-MSA regions with employment over 0.17% in the fossil fuel industry (defined here as NAICS codes 211, 2121, 213, 23712, 324, 4247, and 486) and unemployment greater than or equal to 3.9% (the average national unemployment rate in 2021, according to the Bureau of Labor Statistics).

--Possibly Eligible MSAs (“FossilFuel_Employment_Qualifying_MSAs”) are MSA and non-MSA regions that meet or exceed the 0.17% employment in the fossil fuel industry threshold but do not exceed the unemployment threshold.

--Relevant columns include:

  a) SUM_nhgis0: Total employment in 2020.


  b) SUM_nhgis1: Total unemployment in 2020.


  c) P_Unemp: Percent unemployment in 2020.


  d) Q_Unemp: Boolean column indicating if the MSA or non-MSA’s unemployment rate is at or above the national average of 3.9%.


  e) FF_Qual: Boolean column indicating if the MSA or non-MSA had employment in the fossil fuel industry at or above 0.17% in the past 11 years.


  f) final_Qual: Boolean column indicating if an MSA or non-MSA qualifies for both unemployment rate and fossil fuel employment under the IRA.

Retired Power Plants – Source: EIA via HFLID. Qualifying power plants were selected by use of coal in at least one generator, and if they were retired (RET_DATE) on or after January 1, 2010. This data goes through December 2021.

--Adjacent tract data was derived by Cecelia Isaac using ESRI ArcGIS Pro.

Abandoned Coal Mines – Source: MSHA. Mines labeled “Abandoned”, “Abandoned and Sealed” or “NonProducing” between January 1, 2000 and September 2022.

--Adjacent tract data was derived by Cecelia Isaac using ESRI ArcGIS Pro.

5) US State Borders– Source: IPUMS NHGIS.

Also included here are polygon shapefiles for Onshore Wind and Solar Candidate Project Areas from Princeton REPEAT. These files have been updated to include columns related to the energy communities.

New columns include:

CoalPlantTract: Boolean column indicating if the CPA is within a tract that qualifies because of a retired coal plant.

CoalMineTract: Boolean column indicating if the CPA is within a tract that qualifies because of a closed coal mine.

FossilFuelEmp: Boolean column indicating if the CPA is within an MSA or non-MSA with greater than or equal to 0.17% employment in the fossil fuel industry.

UnempQualification: Boolean column indicating if the CPA is within an MSA or non-MSA with greater than or equal to 0.17% employment in the fossil fuel industry.

MSA_non_to: The code of the MSA or non-MSA area that contains the CPA.

P_Unemp: The percent unemployment of the MSA or non-MSA that contains the CPA in 2021.

United States PPI: Mfg: AP: CA: WG: WI: PP: OW: Slacks/Jeans & Jean-Cut Casual data was reported at 120.180 Jun1993=100 in Dec 2022. This stayed constant from the previous number of 120.180 Jun1993=100 for Nov 2022. United States PPI: Mfg: AP: CA: WG: WI: PP: OW: Slacks/Jeans & Jean-Cut Casual data is updated monthly, averaging 104.800 Jun1993=100 from Jun 1993 (Median) to Dec 2022, with 354 observations. The data reached an all-time high of 120.180 Jun1993=100 in Dec 2022 and a record low of 89.500 Jun1993=100 in Jun 1999. United States PPI: Mfg: AP: CA: WG: WI: PP: OW: Slacks/Jeans & Jean-Cut Casual data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I086: Producer Price Index: by Industry: Manufacturing: Apparel, Leather and Allied Products.