UNRATE
Headline US unemployment rate (U-3)
Official name: Unemployment Rate
Latest value
4.3000
as of 2026-03-01
All-time percentile
24th
1-year change
+2.4%
Time series
Showing 58 of 58 data points
About this series
The official US unemployment rate: unemployed persons as a percentage of the civilian labor force, seasonally adjusted. Published monthly by BLS on the first Friday of each month as part of the Employment Situation report.
Why it matters: This is half of the Fed's dual mandate (maximum employment, price stability). Rising unemployment tends to precede and accompany recessions; the Sahm rule says that when the 3-month moving average rises 0.5 percentage points above its 12-month low, the US is in or entering a recession. The Fed watches it closely for signs of labor market weakness.
How to read it: Full employment is somewhere around 3.5-4.5% depending on the cycle. Below that is "tight labor market" territory; sustained readings above 5% usually indicate economic weakness. Direction of change over 3-6 months matters more than the absolute level.
Caveats: U-3 excludes marginally attached workers and the underemployed — the broader U-6 measure is higher. It's also a lagging indicator; the labor market typically peaks during recessions before rolling over.