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 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.

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.

We investigate the macroeconomic consequences of fluctuations in the effectiveness of the labor market matching process with a focus on the Great Recession. We conduct our analysis in the context of an estimated medium-scale dynamic stochastic general equilibrium model with sticky prices and equilibrium search unemployment that features a shock to the matching efficiency (or mismatch shock). We find that this shock is not important for unemployment fluctuations in normal times. However, it plays a somewhat larger role during the Great Recession when it contributes to raise the actual unemployment rate by around 1.3 percentage points and the natural rate by around 2 percentage points. The mismatch shock is the dominant driver of the natural rate of unemployment and explains part of the recent shift of the Beveridge curve.

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.

The unemployment rate in fiscal year 2204 rose to 3.9 percent. The unemployment rate of the United States which has been steadily decreasing since the 2008 financial crisis, spiked to 8.1 percent in 2020 due to the COVID-19 pandemic. The annual unemployment rate of the U.S. since 1990 can be found here. Falling unemployment The unemployment rate, or the part of the U.S. labor force that is without a job, fell again in 2022 after peaking at 8.1 percent in 2020 - a rate that has not been seen since the years following the 2008 financial crisis. The financial crash caused unemployment in the U.S. to soar from 4.6 percent in 2007 to 9.6 percent in 2010. Since 2010, the unemployment rate had been steadily falling, meaning that more and more people are finding work, whether that be through full-time employment or part-time employment. However, the affects of the COVID-19 pandemic created a spike in unemployment across the country. U.S. unemployment in comparison Compared to unemployment rates in the European Union, U.S. unemployment is relatively low. Greece was hit particularly hard by the 2008 financial crisis and faced a government debt crisis that sent the Greek economy into a tailspin. Due to this crisis, and the added impact of the pandemic, Greece still has the highest unemployment rate in the European Union.

Unemployment Rate in Denmark remained unchanged at 2.50 percent in April. This dataset provides - Denmark Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Total Unemployed, Plus All Persons Marginally Attached to the Labor Force, Plus Total Employed Part Time for Economic Reasons, as a Percent of the Civilian Labor Force Plus All Persons Marginally Attached to the Labor Force (U-6) (U6RATE) from Jan 1994 to May 2025 about marginally attached, part-time, labor underutilization, workers, 16 years +, labor, household survey, unemployment, and USA.

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

Italy's unemployment rate reached 7.6 percent in 2023, the lowest value since 2009. Forecasts suggest that it will stabilize around 7.5 percent between 2024 and 2026. The regions with the highest unemployment rates were in the south. Campania, Calabria, and Sicily registered rates from 15.8 percent to 17.4 percent, a large difference when compared to the northern regions, as only 2.8 percent of residents in Trentino South-Tyrol were unemployed, the lowest share nationwide. Young people mostly impacted Figures about the youth unemployment rate show that the financial crisis impacted the young working population significantly. Between 2004 and 2007, the share of unemployed individuals aged 15 to 24 years was declining. Subsequently, between 2008 and 2014, the rate almost doubled. In this case, southern regions had the largest share of young people without a job. In Sicily, Campania, and Calabria, more than one third of the population aged between 15 and 24 years was unemployed in 2022. Women more often unemployed In most of the Italian regions, the share of young unemployed women was higher than those of young males. In both Campania and Sicily, 50 percent of women aged 15 to 24 years did not have a job. Sicily was the region in Italy with the highest rate of unemployed young men. In this region, 51 percent of males were unemployed, almost five times more than in Trentino-South Tyrol, where the unemployment rate of young men stood at around nine percent.

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

This paper examines the association between the Great Recession and real assets among families with young children. Real assets such as homes and cars are key indicators of economic well-being that may be especially valuable to low-income families. Using longitudinal data from the Fragile Families and Child Wellbeing Study (N = 4,898), we investigate the association between the city unemployment rate and home and car ownership and how the relationship varies by family structure (married, cohabiting, and single parents) and by race/ethnicity (White, Black, and Hispanic mothers). Using mother fixed-effects models, we find that a one percentage point increase in the unemployment rate is associated with a -0.5 percentage point decline in the probability of home ownership and a -0.7 percentage point decline in the probability of car ownership. We also find that the recession was associated with lower levels of home ownership for cohabiting families and for Hispanic families, as well as lower car ownership among single mothers and among Black mothers, whereas no change was observed among married families or White households. Considering that homes and cars are the most important assets among middle and low-income households in the U.S., these results suggest that the rise in the unemployment rate during the Great Recession may have increased household asset inequality across family structures and race/ethnicities, limiting economic mobility, and exacerbating the cycle of poverty.

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.

Abstract (en): 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.

After the 2008 financial crisis, many Spaniards lost their jobs and the Mediterranean country was left with one of the highest unemployment rates in the European Union. In recent years, at least until the economic crisis provoked by the COVID-19, everything pointed at a slow but sure recovery of the job market in Spain, although the unemployment rate among the younger age groups remained still quite high. In fact, over ** percent of those aged 16-19 did not have a job between 2020 and 2022. This figure goes down to approximately **** percent in ages 20-24 and 15.58 for 25 to 29-year-olds. In stark contrast, youth unemployment figures in the European Union reached **** percent in April 2023. The unemployed rate for under 25s was the highest in Spain, followed by Greece and Italy, all the three Mediterranean countries featuring rates of over ** percent in the younger workforce groups. An ongoing and tough recoverySpanish unemployment rate skyrocketed in 2008, jumping from * percent in the first quarter that year up to ***** percent during the same quarter a year after. The Spanish unemployment crisis hit hardest in 2013, when a record high of ** percent of the population did not have a job. In numbers, that share translates into 6.3 million professionals in 2013 left out of the workforce. The job market initiated a recovery thereafter, making moderate and laborious progress and reducing the numbers to approximately *** million unemployed workers in the first quarter of 2023. The impact of the coronavirus on the Spanish economy caused the unemployment rate to surge again throughout 2020, but still remained far from the figures reached after the financial crisis. The unemployment situation in the European Union Spain was the European country with the highest unemployment rate in August 2023, with **** percent of the labor force out of work. The unemployment rate in Greece, in second place, stood at a rate of **** percent in that timeframe, which is still considerably higher than that of the rest of the European Union.

During the fourth quarter of 2024, La Réunion and Guadeloupe, two overseas regions, had the highest unemployment rate among all French regions. Over there, the unemployment rate reached 16.8 and 15.8 percent, respectively, compared to around six percent in Bretagne and Pays de la Loire. Unemployment: an important issue in the economy of France France has been struggling with unemployment since the end of the 2000s and the beginning of the 2008 financial crisis. The unemployment rate in the country reached a record level in 2015 when it amounted to nearly 10.4 percent. However, the situation of employment in France has shown signs of recovery since then. Youth unemployment in the country is finally decreasing; in the meantime, long-term unemployment in France has not yet regained its pre-2008 levels, but stood at 1.7 percent in 2024, a decrease of 0.2 points since the previous year. Being unemployed in France Unemployment does not affect the population in the same way. As displayed by this figure, the northern part of France, which used to be a mining center, was more impacted by the phenomenon. Workers, contrary to the more qualified socio-professional categories, were also more affected by unemployment, as well as women, who are usually more unemployed than men in France, regardless of their nationality.

BackgroundDespite improved health, unemployment has increased among people living with HIV (PlwHIV) over the last decade. However, since the economic recession of 2008, unemployment also increased in the French general population. This paper aimed to determine if the increase in the unemployment rate in the HIV population was higher than that in the French general population.MethodsWe used data from the ANRS-Vespa study, a repeated cross-sectional survey among two national representative samples of PlwHIV followed at hospitals in France in 2003 and 2011. We compared employment and unemployment rates between HIV-infected people (overall and according to period of HIV diagnosis) and the French general population in 2003 and 2011, using multivariate Poisson regressions adjusted for individual sociodemographic characteristics.ResultsThe employment rate among PlwHIV was consistently lower than that in the general population in 2003 and 2011. In contrast, there was a trend of an increasing unemployment rate difference between PlwHIV and the general population: PlwHIV’s unemployment rate was 1.48 (95% confidence interval [CI]: 1.16–1.90) times higher than that of the general population in 2003, versus 1.62 (95% CI: 1.34–1.96) times higher in 2011. This unemployment rate difference was the highest for PlwHIV diagnosed in or after 2008 (adjusted prevalence rate ratio: 2.06; 95% CI: 1.59–2.67).ConclusionsThese results suggest that in time of economic recession, an increasing proportion of PlwHIV may be excluded from the labor market although they are willing to re-enter it. This constitutes a major issue relative to social consequences of chronic disease.

BackgroundData on the potential influence of macroeconomic recessions on maternal diseases during pregnancy are scarce. We aimed to assess potential change in prevalence of pregnancy-induced hypertensive disorders (preeclampsia and gestational hypertension) during the first years of the major national economic recession in Iceland, which started abruptly in October 2008.Methods and FindingsWomen whose pregnancies resulted in live singleton births in Iceland in 2005–2012 constituted the study population (N = 35,211). Data on pregnancy-induced hypertensive disorders were obtained from the Icelandic Medical Birth Register and use of antihypertensive drugs during pregnancy, including β-blockers and calcium channel blockers, from the Icelandic Medicines Register. With the pre-collapse period as reference, we used logistic regression analysis to assess change in pregnancy-induced hypertensive disorders and use of antihypertensives during the first four years after the economic collapse, adjusting for demographic and pregnancy characteristics, taking aggregate economic indicators into account. Compared with the pre-collapse period, we observed an increased prevalence of gestational hypertension in the first year following the economic collapse (2.4% vs. 3.9%; adjusted odds ratio [aOR] 1.47; 95 percent confidence interval [95%CI] 1.13–1.91) but not in the subsequent years. The association disappeared completely when we adjusted for aggregate unemployment rate (aOR 1.04; 95% CI 0.74–1.47). Similarly, there was an increase in prescription fills of β-blockers in the first year following the collapse (1.9% vs.3.1%; aOR 1.43; 95% CI 1.07–1.90), which disappeared after adjusting for aggregate unemployment rate (aOR 1.05; 95% CI 0.72–1.54). No changes were observed for preeclampsia or use of calcium channel blockers between the pre- and post-collapse periods.ConclusionsOur data suggest a transient increased risk of gestational hypertension and use of β-blockers among pregnant women in Iceland in the first and most severe year of the national economic recession.

We study the effects of labor market shocks on immigration enforcement by evaluating the impact of the Great Recession on the likelihood that commuting zones partner with immigration authorities through 287(g) agreements and early adoption of Secure Communities and become subject to E-Verify mandates. Using a difference in differences framework we find that a one percentage point increase in the Great Recession driven unemployment rate is associated with a one percentage point increase in the likelihood of signing a 287(g) agreement, early adoption of Secure Communities, and a two to three-percentage point increase in the likelihood of adopting E-Verify. These files include the data and code accompanying the article.

Globally, the youth unemployment rate (of those aged 15-24 years) fluctuated between 13 and 15.5 percent in each year between 2000 and 2019, before it rose above 18 percent in 2020 due to the Covid-19 pandemic. Broken down by global region, however, there was much more variation. The Arab World was the region with the highest rate of youth unemployment in each year of the previous two decades, while East Asia and the Pacific generally had the lowest youth unemployment rate. Additionally there was a notable increase in regions with the most advanced economies after 2008, as these were the most severely hit during the Great Recession.