"Did the US unemployment rate fall below 4% in 2024?"
The US unemployment rate fell below 4% in the early months of 2024, specifically in January, February, March, and April, according to data from the U.S. Bureau of Labor Statistics.
AnalysisIn 2024, the United States experienced periods where its national unemployment rate was below 4%. The U.S. Bureau of Labor Statistics reported that the unemployment rate was 3.7% in January 2024, 3.9% in February 2024, and 3.8% in March 2024. It was also 3.9% in April 2024.
However, the unemployment rate generally trended upward throughout the year. The annual average unemployment rate for 2024 increased to 4.0 percent, a 0.4 percentage point rise from the previous year. By the fourth quarter of 2024, the average unemployment rate was 4.2 percent, and by December 2024, it was 4.1 percent, having remained at or above 4.1% for the latter seven months of the year.
- [1]dol.gov
- [2]bls.gov
- [3]econofact.org
- [4]bls.gov (2)
- [5]bls.gov (3)