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.

Total unemployment as a percentage of the 15-65-year-old population in 2007 at the level of traffic cells (status 1) (Social Urban Development Monitoring 2008)

{"definition": "Percent of the civilian labor force 16 years and older that are unemployed", "availableYears": "2007", "name": "Unemployment rate, 2007", "units": "Percent", "shortName": "UnempRate2007", "geographicLevel": "County", "dataSources": "Bureau of Labor Statistics, Local Area Unemployment Statistics"}

© UnempRate2007 This layer is sourced from gis.ers.usda.gov.

Youth Unemployment Rate in Georgia decreased to 17.50 percent in 2024 from 21 percent in 2023. This dataset provides the latest reported value for - Georgia Youth Unemployment Rate - 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 Unemployment Level - Foreign Born (LNU03073395) from Jan 2007 to Jun 2025 about foreign, 16 years +, household survey, unemployment, and USA.

In 2024, the unemployment rate in Nicaragua was estimated at about 3.36 percent. Between 1980 and 2024, the figure dropped by approximately 10.09 percentage points, though the decline followed an uneven course rather than a steady trajectory. The rate will remain unchanged between 2024 and 2030, showing complete stability throughout the period.This indicator describes the unemployment rate, which can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The latter defines it as the number of unemployed people divided by the total labor force.

Total unemployed as a percentage of 15-65-year-olds 2007 at planning space level (status 1 — LOR)(Social Urban Development Data 2007 at LOR level)

Unemployment Rate in the United States decreased to 4.10 percent in June from 4.20 percent in May 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.

Unemployment Rate: Foreign Born data was reported at 3.600 % in Apr 2025. This records a decrease from the previous number of 4.400 % for Mar 2025. Unemployment Rate: Foreign Born data is updated monthly, averaging 4.800 % from Jan 2007 (Median) to Apr 2025, with 220 observations. The data reached an all-time high of 16.500 % in Apr 2020 and a record low of 2.600 % in Oct 2019. Unemployment Rate: Foreign Born 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.G: Current Population Survey: Unemployment Rate.

Youth Unemployment Rate in South Korea decreased to 6.60 percent in May from 7.30 percent in April of 2025. This dataset provides - South Korea Youth Unemployment Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the unemployment rate in Chile amounted to approximately 8.46 percent. Between 1980 and 2024, the figure dropped by around 3.04 percentage points, though the decline followed an uneven course rather than a steady trajectory. The rate is forecast to decline by about 0.96 percentage points from 2024 to 2030, fluctuating as it trends downward.This indicator describes the unemployment rate, which can be defined by either the national definition, the ILO harmonized definition, or the OECD harmonized definition. The latter defines it as the number of unemployed people divided by the total labor force.

Graph and download economic data for Unemployment Level - Foreign Born, Men (LNU03073396) from Jan 2007 to May 2025 about foreign, males, 16 years +, household survey, unemployment, and USA.

Graph and download economic data for Unemployment Rate - 20 Yrs. & over (LNS14000024) from Jan 1948 to Jun 2025 about 20 years +, household survey, unemployment, rate, and USA.

United States Unemployment Rate: Arizona data was reported at 4.500 % in Oct 2018. This records a decrease from the previous number of 4.900 % for Sep 2018. United States Unemployment Rate: Arizona data is updated monthly, averaging 5.900 % from Jan 1976 (Median) to Oct 2018, with 514 observations. The data reached an all-time high of 11.800 % in Jan 1983 and a record low of 3.400 % in May 2007. United States Unemployment Rate: Arizona data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.G057: Unemployment Rate: By State.

The rate of unemployment in the City of Marseille has been fluctuating between 2007 and 2021 but has remained high overall, consistently between **** and **** percent. The highest rate recorded during this period was in 2013, while it has been below the ** percent mark since 2018.By comparison, the unemployment rate stood at **** percent in France in 2023.

Unemployment Rate in Bosnia and Herzegovina decreased to 11.70 percent in the fourth quarter of 2024 from 12.20 percent in the third quarter of 2024. This dataset provides - Bosnia and Herzegovina Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Initial Jobless Claims in the United States decreased to 227 thousand in the week ending July 5 of 2025 from 232 thousand in the previous week. This dataset provides the latest reported value for - United States Initial Jobless Claims - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Historical chart and dataset showing Japan unemployment rate by year from 1991 to 2024.