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June 3rd, 2012 7:28 pm EST - By

Country Posted Unemployment Rate of 2.5% in May, June of 1953




Q: What was the lowest unemployment rate in the history of the United States?

A: 2.5% (May, June of 1953).

The Bureau of Labor Statistics provides us with data that goes back until January 1st, 1948. So when we say "lowest unemployment rate in the history of the United States", we mean "lowest unemployment rate since 1948".

Construction Worker - SilhouetteThe United States may have posted a lower unemployment rate in October of 1899, but there is no accurate data available prior to 1948.

--

Some other notes:

-the unemployment rate for all of 1953 was an average of 2.93%

-the unemployment rates in 1953 looked like this:

Unemployment Rates in 1953

January 1953 - 2.9%
February 1953 - 2.6%
March 1953 - 2.6%
April 1953 - 2.7%
May 1953 - 2.5%
June 1953 - 2.5%
July 1953 - 2.6%
August 1953 - 2.7%
September 1953 - 2.9%
October 1953 - 3.1%
November 1953 - 3.5%
December 1953 - 4.5%

-the United States posted an inflation-adjusted deficit of $56.03 billion in 1953 (the Korean War was still underway in 1953)

-the United States posted GDP growth of 4.6% in 1953

-Dwight D. Eisenhower was President in 1953. The Republicans controlled the Senate, while the Democrats controlled the House.



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