With the collapse of the U.S. housing market and the subsequent financial crisis on Wall Street in 2007 and 2008, economies across the globe began to enter into deep recessions. What had started out as a crisis centered on the United States quickly became global in nature, as it became apparent that not only had the economies of other advanced countries (grouped together as the G7) become intimately tied to the U.S. financial system, but that many of them had experienced housing and asset price bubbles similar to that in the U.S.. The United Kingdom had experienced a huge inflation of housing prices since the 1990s, while Eurozone members (such as Germany, France and Italy) had financial sectors which had become involved in reckless lending to economies on the periphery of the EU, such as Greece, Ireland and Portugal. Other countries, such as Japan, were hit heavily due their export-led growth models which suffered from the decline in international trade. Unemployment during the Great Recession As business and consumer confidence crashed, credit markets froze, and international trade contracted, the unemployment rate in the most advanced economies shot up. While four to five percent is generally considered to be a healthy unemployment rate, nearing full employment in the economy (when any remaining unemployment is not related to a lack of consumer demand), many of these countries experienced rates at least double that, with unemployment in the United States peaking at almost 10 percent in 2010. In large countries, unemployment rates of this level meant millions or tens of millions of people being out of work, which led to political pressures to stimulate economies and create jobs. By 2012, many of these countries were seeing declining unemployment rates, however, in France and Italy rates of joblessness continued to increase as the Euro crisis took hold. These countries suffered from having a monetary policy which was too tight for their economies (due to the ECB controlling interest rates) and fiscal policy which was constrained by EU debt rules. Left with the option of deregulating their labor markets and pursuing austerity policies, their unemployment rates remained over 10 percent well into the 2010s. Differences in labor markets The differences in unemployment rates at the peak of the crisis (2009-2010) reflect not only the differences in how economies were affected by the downturn, but also the differing labor market institutions and programs in the various countries. Countries with more 'liberalized' labor markets, such as the United States and United Kingdom experienced sharp jumps in their unemployment rate due to the ease at which employers can lay off workers in these countries. When the crisis subsided in these countries, however, their unemployment rates quickly began to drop below those of the other countries, due to their more dynamic labor markets which make it easier to hire workers when the economy is doing well. On the other hand, countries with more 'coordinated' labor market institutions, such as Germany and Japan, experiences lower rates of unemployment during the crisis, as programs such as short-time work, job sharing, and wage restraint agreements were used to keep workers in their jobs. While these countries are less likely to experience spikes in unemployment during crises, the highly regulated nature of their labor markets mean that they are slower to add jobs during periods of economic prosperity.

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.

Graph and download economic data for Real-time Sahm Rule Recession Indicator (SAHMREALTIME) from Dec 1959 to Aug 2025 about recession indicators, academic data, and USA.

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.

Graph and download economic data for Unemployment Rate in Arkansas (ARUR) from Jan 1976 to Aug 2025 about AR, unemployment, rate, and USA.

Unemployment Rate in the United States increased to 4.30 percent in August from 4.20 percent in July 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 COVID-19 pandemic caused regressive income declines, but also led to progressive policy responses. Using administrative U.S. tax data, which are a near-universal panel dataset that can track income changes over time, we consider the distribution of annual income declines during the COVID-19 pandemic relative to the Great Recession. We then show how the unprecedented policy response to the pandemic, through enhanced unemployment insurance benefits and stimulus checks, affected the distribution of these declines

Graph and download economic data for Unemployment Rate - 16-24 Yrs. (LNU04024887) from Jan 1948 to Aug 2025 about 16 to 24 years, unemployment, rate, and USA.

Long-term unemployment surged in the United States in the aftermath of the Global Financial Crisis (2007-2008) and Great Recession (2008-2009). The long-term unemployment rate did not fall below its pre-Great Recession levels until March 2020, which was caused by the surge in the numbers of regular unemployed persons in the U.S., not by a decrease in the absolute number of long-term unemployed. Long-term unemployment is defined as a worker who is seeking work having been unemployed for 27 weeks or longer. This is a serious problem in the United States as many long-term unemployed workers have low levels of educational attainment, have worked in declining industries in the past (such as some primary or manufacturing sectors), or come from minority groups. Active labor market policies are used to address these issues, with schemes such as training and job-sharing schemes aiming to improve the job prospects of the long-term unemployed. The question of whether automation and other structural changes to the economy are causing a secular increase in long-term unemployment is a key issue facing the U.S. in the 21st century.

Expectations shaped by monetary policy kept inflation stable during the Great Recession despite disinflationary pressure from high unemployment.

Graph and download economic data for Unemployment Rate in Pennsylvania (PAUR) from Jan 1976 to Aug 2025 about PA, unemployment, rate, and USA.

This release looks at the increase in unemployment during the recent economic downturn. Increases in unemployment will be compared across regions in the UK, age groups, gender and other characteristics. Claimant count data will also be included.

Source agency: Office for National Statistics

Designation: National Statistics

Language: English

Alternative title: Unemployment during the economic downturn

This research paper builds on previous literature and documents general changes in the labor market for Native American women that occurred during the Great Recession using extracts of data from the Current Population Survey Annual Earnings file, known as the Merged Outgoing Rotation Groups (MORG). Wages, unemployment, and other labor market variables for Native American women are contrasted with those of Native American men and white women to determine the relative change in labor market inequality that occurred during the Great Recession.

Graph and download economic data for Unemployment Rate in Iowa (IAUR) from Jan 1976 to Aug 2025 about IA, unemployment, rate, and USA.

Unemployment Rate in Denmark remained unchanged at 2.60 percent in August. This dataset provides - Denmark Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This statistic shows public evaluation of who was to blame for the economic problems in each country as of 2012. 78 percent of respondents in Spain felt that it was the banks and financial institutions that were most to blame for the current economic problems in their own country as of 2012.

Graph and download economic data for Unemployment Rate in Virginia (VAUR) from Jan 1976 to Aug 2025 about VA, unemployment, rate, and USA.

The US Social Security Disability Insurance (SSDI) program is designed to provide income support to workers who become unable to work because of a severe, long-lasting disability. In this study, we use administrative data to estimate the effect of labor market conditions, as measured by the unemployment rate, on the number of SSDI applications, the number and composition of initial allowances and denials, and the timing of applications relative to disability onset. We analyze the period of the Great Recession, and compare this period with business cycle effects over the past two decades, from 1992 through 2012.

Graph and download economic data for Unemployment Rate in Minneapolis-St. Paul-Bloomington, MN-WI (MSA) (MINN427URN) from Jan 1990 to Aug 2025 about Minneapolis, MN, WI, unemployment, rate, and USA.

The PWSD is a dataset that can be used to answer questions about various public workforce system programs and how these programs fit in with the overall public workforce system and the economy. It was designed primarily to be used as a tool to understand what has been occurring in the Wagner-Peyser program and contains data from quarter 1 of 1995 through quarter 4 of 2008. Also, it was designed to understand the relationship and flow of participants as they go through the public workforce system. The PWSD can be used to analyze these programs both individually and in combination. The PWSD contains economic variables, Unemployment Insurance System data, and data on programs funded by the Workforce Investment Act and Employment Service. Economic variables included are labor force, employment, unemployment, unemployment rate, and gross domestic product data.