Last Unemployment Rate of Less than 7% Was Posted in November of 2008

It's been a full 50 months since the United States posted a national unemployment rate of less than 7%, and the trend is not likely to be broken anytime soon.

The last time that the national unemployment rate was under 7% in the United States? November of 2008 (6.8%).

In December of 2008, the unemployment rate jumped to 7.2% as the economy shed hundreds of thousands of jobs (thanks to the financial crisis) per month, and has not retreated below the 7% level since.

The economy is adding jobs once again, but the national unemployment rate still sits at nearly 8%.

The national unemployment rate from November of 2008 until present day:

November 2008 - 6.8%
December 2008 - 7.2%

January 2009 - 7.6%
February 2009 - 8.1%
March 2009 - 8.5%
April 2009 - 8.9%
May 2009 - 9.4%
June 2009 - 9.5%
July 2009 - 9.4%
August 2009 - 9.7%
September 2009 - 9.8%
October 2009 - 10.2%
November 2009 - 10%
December 2009 - 10%

January 2010 - 9.7%
February 2010 - 9.7%
March 2010 - 9.7%
April 2010 - 9.9%
May 2010 - 9.7%
June 2010 - 9.5%
July 2010 - 9.5%
August 2010 - 9.6%
September 2010 - 9.6%
October 2010 - 9.6%
November 2010 - 9.8%
December 2010 - 9.4%

January 2011 - 9%
February 2011 - 8.9%
March 2011 - 8.8%
April 2011 - 9%
May 2011 - 9.1%
June 2011 - 9.2%
July 2011 - 9.1%
August 2011 - 9.1%
September 2011 - 9.1%
October 2011 - 9%
November 2011 - 8.6%
December 2011 - 8.5%

January 2012 - 8.3%
February 2012 - 8.3%
March 2012 - 8.2%
April 2012 - 8.1%
May 2012 - 8.2%
June 2012 - 8.2%
July 2012 - 8.2%
August 2012 - 8.1%
September 2012 - 7.8%
October 2012 - 7.9%
November 2012 - 7.8%
December 2012 - 7.8%

January 2013 - 7.9%

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Don't expect the national unemployment rate to dip below 7% anytime soon - the CBO (Congressional Budget Office) predicts that the national jobless rate will remain above 7.5% through the end of 2014.

Source: Historical Unemployment Rates

Filed under: General Knowledge