VerdictTRUE

The Claim

"Did the US unemployment rate fall below 4% in 2024?"

Bottom Line

The U.S. unemployment rate did fall below 4% in early 2024, specifically in January, February, and March.

Analysis

According to data from the U.S. Bureau of Labor Statistics (BLS) and reports from the Acting Secretary of Labor, the national unemployment rate was below 4% for the first three months of 2024. In January 2024, the rate was 3.7%, followed by 3.9% in February, and 3.8% in March.

Acting Secretary of Labor Julie Su noted that as of the March 2024 report, the jobless rate had been below 4% for 26 consecutive months, marking the longest such stretch in over 50 years. While the annual average unemployment rate for 2024 increased to 4.0% from the prior year, indicating a rise in unemployment later in the year, the initial months clearly showed rates below 4%.

By the fourth quarter of 2024, the unemployment rate averaged 4.2%, and the December 2024 report showed it at 4.1%. However, the question specifically asks if the rate *fell below* 4% in 2024, which it did.

Sources / Bibliography

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