Figure A
There has been insufficient vigilance in fighting unemployment since the late 1970s: Estimate of the natural rate of unemployment and actual unemployment, 1949–2018
| Month-year | Unemployment rate | NAIRU |
|---|---|---|
| Jan-1949 | 4.3% | 5.26% |
| Feb-1949 | 4.7 | |
| Mar-1949 | 5.0 | |
| Apr-1949 | 5.3 | 5.26 |
| May-1949 | 6.1 | |
| Jun-1949 | 6.2 | |
| Jul-1949 | 6.7 | 5.25 |
| Aug-1949 | 6.8 | |
| Sep-1949 | 6.6 | |
| Oct-1949 | 7.9 | 5.25 |
| Nov-1949 | 6.4 | |
| Dec-1949 | 6.6 | |
| Jan-1950 | 6.5 | 5.26 |
| Feb-1950 | 6.4 | |
| Mar-1950 | 6.3 | |
| Apr-1950 | 5.8 | 5.26 |
| May-1950 | 5.5 | |
| Jun-1950 | 5.4 | |
| Jul-1950 | 5.0 | 5.27 |
| Aug-1950 | 4.5 | |
| Sep-1950 | 4.4 | |
| Oct-1950 | 4.2 | 5.28 |
| Nov-1950 | 4.2 | |
| Dec-1950 | 4.3 | |
| Jan-1951 | 3.7 | 5.29 |
| Feb-1951 | 3.4 | |
| Mar-1951 | 3.4 | |
| Apr-1951 | 3.1 | 5.31 |
| May-1951 | 3.0 | |
| Jun-1951 | 3.2 | |
| Jul-1951 | 3.1 | 5.33 |
| Aug-1951 | 3.1 | |
| Sep-1951 | 3.3 | |
| Oct-1951 | 3.5 | 5.34 |
| Nov-1951 | 3.5 | |
| Dec-1951 | 3.1 | |
| Jan-1952 | 3.2 | 5.36 |
| Feb-1952 | 3.1 | |
| Mar-1952 | 2.9 | |
| Apr-1952 | 2.9 | 5.37 |
| May-1952 | 3.0 | |
| Jun-1952 | 3.0 | |
| Jul-1952 | 3.2 | 5.38 |
| Aug-1952 | 3.4 | |
| Sep-1952 | 3.1 | |
| Oct-1952 | 3.0 | 5.38 |
| Nov-1952 | 2.8 | |
| Dec-1952 | 2.7 | |
| Jan-1953 | 2.9 | 5.37 |
| Feb-1953 | 2.6 | |
| Mar-1953 | 2.6 | |
| Apr-1953 | 2.7 | 5.37 |
| May-1953 | 2.5 | |
| Jun-1953 | 2.5 | |
| Jul-1953 | 2.6 | 5.37 |
| Aug-1953 | 2.7 | |
| Sep-1953 | 2.9 | |
| Oct-1953 | 3.1 | 5.37 |
| Nov-1953 | 3.5 | |
| Dec-1953 | 4.5 | |
| Jan-1954 | 4.9 | 5.37 |
| Feb-1954 | 5.2 | |
| Mar-1954 | 5.7 | |
| Apr-1954 | 5.9 | 5.37 |
| May-1954 | 5.9 | |
| Jun-1954 | 5.6 | |
| Jul-1954 | 5.8 | 5.37 |
| Aug-1954 | 6.0 | |
| Sep-1954 | 6.1 | |
| Oct-1954 | 5.7 | 5.37 |
| Nov-1954 | 5.3 | |
| Dec-1954 | 5.0 | |
| Jan-1955 | 4.9 | 5.37 |
| Feb-1955 | 4.7 | |
| Mar-1955 | 4.6 | |
| Apr-1955 | 4.7 | 5.38 |
| May-1955 | 4.3 | |
| Jun-1955 | 4.2 | |
| Jul-1955 | 4.0 | 5.38 |
| Aug-1955 | 4.2 | |
| Sep-1955 | 4.1 | |
| Oct-1955 | 4.3 | 5.39 |
| Nov-1955 | 4.2 | |
| Dec-1955 | 4.2 | |
| Jan-1956 | 4.0 | 5.40 |
| Feb-1956 | 3.9 | |
| Mar-1956 | 4.2 | |
| Apr-1956 | 4.0 | 5.41 |
| May-1956 | 4.3 | |
| Jun-1956 | 4.3 | |
| Jul-1956 | 4.4 | 5.41 |
| Aug-1956 | 4.1 | |
| Sep-1956 | 3.9 | |
| Oct-1956 | 3.9 | 5.41 |
| Nov-1956 | 4.3 | |
| Dec-1956 | 4.2 | |
| Jan-1957 | 4.2 | 5.40 |
| Feb-1957 | 3.9 | |
| Mar-1957 | 3.7 | |
| Apr-1957 | 3.9 | 5.40 |
| May-1957 | 4.1 | |
| Jun-1957 | 4.3 | |
| Jul-1957 | 4.2 | 5.40 |
| Aug-1957 | 4.1 | |
| Sep-1957 | 4.4 | |
| Oct-1957 | 4.5 | 5.40 |
| Nov-1957 | 5.1 | |
| Dec-1957 | 5.2 | |
| Jan-1958 | 5.8 | 5.40 |
| Feb-1958 | 6.4 | |
| Mar-1958 | 6.7 | |
| Apr-1958 | 7.4 | 5.40 |
| May-1958 | 7.4 | |
| Jun-1958 | 7.3 | |
| Jul-1958 | 7.5 | 5.40 |
| Aug-1958 | 7.4 | |
| Sep-1958 | 7.1 | |
| Oct-1958 | 6.7 | 5.40 |
| Nov-1958 | 6.2 | |
| Dec-1958 | 6.2 | |
| Jan-1959 | 6.0 | 5.41 |
| Feb-1959 | 5.9 | |
| Mar-1959 | 5.6 | |
| Apr-1959 | 5.2 | 5.42 |
| May-1959 | 5.1 | |
| Jun-1959 | 5.0 | |
| Jul-1959 | 5.1 | 5.43 |
| Aug-1959 | 5.2 | |
| Sep-1959 | 5.5 | |
| Oct-1959 | 5.7 | 5.45 |
| Nov-1959 | 5.8 | |
| Dec-1959 | 5.3 | |
| Jan-1960 | 5.2 | 5.48 |
| Feb-1960 | 4.8 | |
| Mar-1960 | 5.4 | |
| Apr-1960 | 5.2 | 5.49 |
| May-1960 | 5.1 | |
| Jun-1960 | 5.4 | |
| Jul-1960 | 5.5 | 5.51 |
| Aug-1960 | 5.6 | |
| Sep-1960 | 5.5 | |
| Oct-1960 | 6.1 | 5.51 |
| Nov-1960 | 6.1 | |
| Dec-1960 | 6.6 | |
| Jan-1961 | 6.6 | 5.51 |
| Feb-1961 | 6.9 | |
| Mar-1961 | 6.9 | |
| Apr-1961 | 7.0 | 5.51 |
| May-1961 | 7.1 | |
| Jun-1961 | 6.9 | |
| Jul-1961 | 7.0 | 5.51 |
| Aug-1961 | 6.6 | |
| Sep-1961 | 6.7 | |
| Oct-1961 | 6.5 | 5.51 |
| Nov-1961 | 6.1 | |
| Dec-1961 | 6.0 | |
| Jan-1962 | 5.8 | 5.50 |
| Feb-1962 | 5.5 | |
| Mar-1962 | 5.6 | |
| Apr-1962 | 5.6 | 5.50 |
| May-1962 | 5.5 | |
| Jun-1962 | 5.5 | |
| Jul-1962 | 5.4 | 5.51 |
| Aug-1962 | 5.7 | |
| Sep-1962 | 5.6 | |
| Oct-1962 | 5.4 | 5.51 |
| Nov-1962 | 5.7 | |
| Dec-1962 | 5.5 | |
| Jan-1963 | 5.7 | 5.53 |
| Feb-1963 | 5.9 | |
| Mar-1963 | 5.7 | |
| Apr-1963 | 5.7 | 5.54 |
| May-1963 | 5.9 | |
| Jun-1963 | 5.6 | |
| Jul-1963 | 5.6 | 5.55 |
| Aug-1963 | 5.4 | |
| Sep-1963 | 5.5 | |
| Oct-1963 | 5.5 | 5.56 |
| Nov-1963 | 5.7 | |
| Dec-1963 | 5.5 | |
| Jan-1964 | 5.6 | 5.57 |
| Feb-1964 | 5.4 | |
| Mar-1964 | 5.4 | |
| Apr-1964 | 5.3 | 5.59 |
| May-1964 | 5.1 | |
| Jun-1964 | 5.2 | |
| Jul-1964 | 4.9 | 5.60 |
| Aug-1964 | 5.0 | |
| Sep-1964 | 5.1 | |
| Oct-1964 | 5.1 | 5.62 |
| Nov-1964 | 4.8 | |
| Dec-1964 | 5.0 | |
| Jan-1965 | 4.9 | 5.64 |
| Feb-1965 | 5.1 | |
| Mar-1965 | 4.7 | |
| Apr-1965 | 4.8 | 5.66 |
| May-1965 | 4.6 | |
| Jun-1965 | 4.6 | |
| Jul-1965 | 4.4 | 5.69 |
| Aug-1965 | 4.4 | |
| Sep-1965 | 4.3 | |
| Oct-1965 | 4.2 | 5.71 |
| Nov-1965 | 4.1 | |
| Dec-1965 | 4.0 | |
| Jan-1966 | 4.0 | 5.74 |
| Feb-1966 | 3.8 | |
| Mar-1966 | 3.8 | |
| Apr-1966 | 3.8 | 5.76 |
| May-1966 | 3.9 | |
| Jun-1966 | 3.8 | |
| Jul-1966 | 3.8 | 5.78 |
| Aug-1966 | 3.8 | |
| Sep-1966 | 3.7 | |
| Oct-1966 | 3.7 | 5.78 |
| Nov-1966 | 3.6 | |
| Dec-1966 | 3.8 | |
| Jan-1967 | 3.9 | 5.78 |
| Feb-1967 | 3.8 | |
| Mar-1967 | 3.8 | |
| Apr-1967 | 3.8 | 5.78 |
| May-1967 | 3.8 | |
| Jun-1967 | 3.9 | |
| Jul-1967 | 3.8 | 5.78 |
| Aug-1967 | 3.8 | |
| Sep-1967 | 3.8 | |
| Oct-1967 | 4.0 | 5.78 |
| Nov-1967 | 3.9 | |
| Dec-1967 | 3.8 | |
| Jan-1968 | 3.7 | 5.78 |
| Feb-1968 | 3.8 | |
| Mar-1968 | 3.7 | |
| Apr-1968 | 3.5 | 5.79 |
| May-1968 | 3.5 | |
| Jun-1968 | 3.7 | |
| Jul-1968 | 3.7 | 5.80 |
| Aug-1968 | 3.5 | |
| Sep-1968 | 3.4 | |
| Oct-1968 | 3.4 | 5.81 |
| Nov-1968 | 3.4 | |
| Dec-1968 | 3.4 | |
| Jan-1969 | 3.4 | 5.82 |
| Feb-1969 | 3.4 | |
| Mar-1969 | 3.4 | |
| Apr-1969 | 3.4 | 5.84 |
| May-1969 | 3.4 | |
| Jun-1969 | 3.5 | |
| Jul-1969 | 3.5 | 5.85 |
| Aug-1969 | 3.5 | |
| Sep-1969 | 3.7 | |
| Oct-1969 | 3.7 | 5.86 |
| Nov-1969 | 3.5 | |
| Dec-1969 | 3.5 | |
| Jan-1970 | 3.9 | 5.88 |
| Feb-1970 | 4.2 | |
| Mar-1970 | 4.4 | |
| Apr-1970 | 4.6 | 5.89 |
| May-1970 | 4.8 | |
| Jun-1970 | 4.9 | |
| Jul-1970 | 5.0 | 5.90 |
| Aug-1970 | 5.1 | |
| Sep-1970 | 5.4 | |
| Oct-1970 | 5.5 | 5.91 |
| Nov-1970 | 5.9 | |
| Dec-1970 | 6.1 | |
| Jan-1971 | 5.9 | 5.92 |
| Feb-1971 | 5.9 | |
| Mar-1971 | 6.0 | |
| Apr-1971 | 5.9 | 5.93 |
| May-1971 | 5.9 | |
| Jun-1971 | 5.9 | |
| Jul-1971 | 6.0 | 5.95 |
| Aug-1971 | 6.1 | |
| Sep-1971 | 6.0 | |
| Oct-1971 | 5.8 | 5.97 |
| Nov-1971 | 6.0 | |
| Dec-1971 | 6.0 | |
| Jan-1972 | 5.8 | 6.00 |
| Feb-1972 | 5.7 | |
| Mar-1972 | 5.8 | |
| Apr-1972 | 5.7 | 6.02 |
| May-1972 | 5.7 | |
| Jun-1972 | 5.7 | |
| Jul-1972 | 5.6 | 6.05 |
| Aug-1972 | 5.6 | |
| Sep-1972 | 5.5 | |
| Oct-1972 | 5.6 | 6.07 |
| Nov-1972 | 5.3 | |
| Dec-1972 | 5.2 | |
| Jan-1973 | 4.9 | 6.10 |
| Feb-1973 | 5.0 | |
| Mar-1973 | 4.9 | |
| Apr-1973 | 5.0 | 6.12 |
| May-1973 | 4.9 | |
| Jun-1973 | 4.9 | |
| Jul-1973 | 4.8 | 6.14 |
| Aug-1973 | 4.8 | |
| Sep-1973 | 4.8 | |
| Oct-1973 | 4.6 | 6.15 |
| Nov-1973 | 4.8 | |
| Dec-1973 | 4.9 | |
| Jan-1974 | 5.1 | 6.16 |
| Feb-1974 | 5.2 | |
| Mar-1974 | 5.1 | |
| Apr-1974 | 5.1 | 6.17 |
| May-1974 | 5.1 | |
| Jun-1974 | 5.4 | |
| Jul-1974 | 5.5 | 6.17 |
| Aug-1974 | 5.5 | |
| Sep-1974 | 5.9 | |
| Oct-1974 | 6.0 | 6.17 |
| Nov-1974 | 6.6 | |
| Dec-1974 | 7.2 | |
| Jan-1975 | 8.1 | 6.17 |
| Feb-1975 | 8.1 | |
| Mar-1975 | 8.6 | |
| Apr-1975 | 8.8 | 6.17 |
| May-1975 | 9.0 | |
| Jun-1975 | 8.8 | |
| Jul-1975 | 8.6 | 6.17 |
| Aug-1975 | 8.4 | |
| Sep-1975 | 8.4 | |
| Oct-1975 | 8.4 | 6.18 |
| Nov-1975 | 8.3 | |
| Dec-1975 | 8.2 | |
| Jan-1976 | 7.9 | 6.19 |
| Feb-1976 | 7.7 | |
| Mar-1976 | 7.6 | |
| Apr-1976 | 7.7 | 6.20 |
| May-1976 | 7.4 | |
| Jun-1976 | 7.6 | |
| Jul-1976 | 7.8 | 6.21 |
| Aug-1976 | 7.8 | |
| Sep-1976 | 7.6 | |
| Oct-1976 | 7.7 | 6.21 |
| Nov-1976 | 7.8 | |
| Dec-1976 | 7.8 | |
| Jan-1977 | 7.5 | 6.22 |
| Feb-1977 | 7.6 | |
| Mar-1977 | 7.4 | |
| Apr-1977 | 7.2 | 6.23 |
| May-1977 | 7.0 | |
| Jun-1977 | 7.2 | |
| Jul-1977 | 6.9 | 6.24 |
| Aug-1977 | 7.0 | |
| Sep-1977 | 6.8 | |
| Oct-1977 | 6.8 | 6.25 |
| Nov-1977 | 6.8 | |
| Dec-1977 | 6.4 | |
| Jan-1978 | 6.4 | 6.26 |
| Feb-1978 | 6.3 | |
| Mar-1978 | 6.3 | |
| Apr-1978 | 6.1 | 6.27 |
| May-1978 | 6.0 | |
| Jun-1978 | 5.9 | |
| Jul-1978 | 6.2 | 6.27 |
| Aug-1978 | 5.9 | |
| Sep-1978 | 6.0 | |
| Oct-1978 | 5.8 | 6.27 |
| Nov-1978 | 5.9 | |
| Dec-1978 | 6.0 | |
| Jan-1979 | 5.9 | 6.26 |
| Feb-1979 | 5.9 | |
| Mar-1979 | 5.8 | |
| Apr-1979 | 5.8 | 6.26 |
| May-1979 | 5.6 | |
| Jun-1979 | 5.7 | |
| Jul-1979 | 5.7 | 6.25 |
| Aug-1979 | 6.0 | |
| Sep-1979 | 5.9 | |
| Oct-1979 | 6.0 | 6.24 |
| Nov-1979 | 5.9 | |
| Dec-1979 | 6.0 | |
| Jan-1980 | 6.3 | 6.23 |
| Feb-1980 | 6.3 | |
| Mar-1980 | 6.3 | |
| Apr-1980 | 6.9 | 6.22 |
| May-1980 | 7.5 | |
| Jun-1980 | 7.6 | |
| Jul-1980 | 7.8 | 6.21 |
| Aug-1980 | 7.7 | |
| Sep-1980 | 7.5 | |
| Oct-1980 | 7.5 | 6.20 |
| Nov-1980 | 7.5 | |
| Dec-1980 | 7.2 | |
| Jan-1981 | 7.5 | 6.19 |
| Feb-1981 | 7.4 | |
| Mar-1981 | 7.4 | |
| Apr-1981 | 7.2 | 6.17 |
| May-1981 | 7.5 | |
| Jun-1981 | 7.5 | |
| Jul-1981 | 7.2 | 6.16 |
| Aug-1981 | 7.4 | |
| Sep-1981 | 7.6 | |
| Oct-1981 | 7.9 | 6.15 |
| Nov-1981 | 8.3 | |
| Dec-1981 | 8.5 | |
| Jan-1982 | 8.6 | 6.13 |
| Feb-1982 | 8.9 | |
| Mar-1982 | 9.0 | |
| Apr-1982 | 9.3 | 6.12 |
| May-1982 | 9.4 | |
| Jun-1982 | 9.6 | |
| Jul-1982 | 9.8 | 6.11 |
| Aug-1982 | 9.8 | |
| Sep-1982 | 10.1 | |
| Oct-1982 | 10.4 | 6.10 |
| Nov-1982 | 10.8 | |
| Dec-1982 | 10.8 | |
| Jan-1983 | 10.4 | 6.09 |
| Feb-1983 | 10.4 | |
| Mar-1983 | 10.3 | |
| Apr-1983 | 10.2 | 6.08 |
| May-1983 | 10.1 | |
| Jun-1983 | 10.1 | |
| Jul-1983 | 9.4 | 6.07 |
| Aug-1983 | 9.5 | |
| Sep-1983 | 9.2 | |
| Oct-1983 | 8.8 | 6.06 |
| Nov-1983 | 8.5 | |
| Dec-1983 | 8.3 | |
| Jan-1984 | 8.0 | 6.05 |
| Feb-1984 | 7.8 | |
| Mar-1984 | 7.8 | |
| Apr-1984 | 7.7 | 6.05 |
| May-1984 | 7.4 | |
| Jun-1984 | 7.2 | |
| Jul-1984 | 7.5 | 6.04 |
| Aug-1984 | 7.5 | |
| Sep-1984 | 7.3 | |
| Oct-1984 | 7.4 | 6.03 |
| Nov-1984 | 7.2 | |
| Dec-1984 | 7.3 | |
| Jan-1985 | 7.3 | 6.03 |
| Feb-1985 | 7.2 | |
| Mar-1985 | 7.2 | |
| Apr-1985 | 7.3 | 6.02 |
| May-1985 | 7.2 | |
| Jun-1985 | 7.4 | |
| Jul-1985 | 7.4 | 6.02 |
| Aug-1985 | 7.1 | |
| Sep-1985 | 7.1 | |
| Oct-1985 | 7.1 | 6.01 |
| Nov-1985 | 7.0 | |
| Dec-1985 | 7.0 | |
| Jan-1986 | 6.7 | 6.00 |
| Feb-1986 | 7.2 | |
| Mar-1986 | 7.2 | |
| Apr-1986 | 7.1 | 6.00 |
| May-1986 | 7.2 | |
| Jun-1986 | 7.2 | |
| Jul-1986 | 7.0 | 5.99 |
| Aug-1986 | 6.9 | |
| Sep-1986 | 7.0 | |
| Oct-1986 | 7.0 | 5.99 |
| Nov-1986 | 6.9 | |
| Dec-1986 | 6.6 | |
| Jan-1987 | 6.6 | 5.98 |
| Feb-1987 | 6.6 | |
| Mar-1987 | 6.6 | |
| Apr-1987 | 6.3 | 5.97 |
| May-1987 | 6.3 | |
| Jun-1987 | 6.2 | |
| Jul-1987 | 6.1 | 5.97 |
| Aug-1987 | 6.0 | |
| Sep-1987 | 5.9 | |
| Oct-1987 | 6.0 | 5.96 |
| Nov-1987 | 5.8 | |
| Dec-1987 | 5.7 | |
| Jan-1988 | 5.7 | 5.95 |
| Feb-1988 | 5.7 | |
| Mar-1988 | 5.7 | |
| Apr-1988 | 5.4 | 5.94 |
| May-1988 | 5.6 | |
| Jun-1988 | 5.4 | |
| Jul-1988 | 5.4 | 5.93 |
| Aug-1988 | 5.6 | |
| Sep-1988 | 5.4 | |
| Oct-1988 | 5.4 | 5.92 |
| Nov-1988 | 5.3 | |
| Dec-1988 | 5.3 | |
| Jan-1989 | 5.4 | 5.91 |
| Feb-1989 | 5.2 | |
| Mar-1989 | 5.0 | |
| Apr-1989 | 5.2 | 5.91 |
| May-1989 | 5.2 | |
| Jun-1989 | 5.3 | |
| Jul-1989 | 5.2 | 5.90 |
| Aug-1989 | 5.2 | |
| Sep-1989 | 5.3 | |
| Oct-1989 | 5.3 | 5.89 |
| Nov-1989 | 5.4 | |
| Dec-1989 | 5.4 | |
| Jan-1990 | 5.4 | 5.89 |
| Feb-1990 | 5.3 | |
| Mar-1990 | 5.2 | |
| Apr-1990 | 5.4 | 5.87 |
| May-1990 | 5.4 | |
| Jun-1990 | 5.2 | |
| Jul-1990 | 5.5 | 5.86 |
| Aug-1990 | 5.7 | |
| Sep-1990 | 5.9 | |
| Oct-1990 | 5.9 | 5.84 |
| Nov-1990 | 6.2 | |
| Dec-1990 | 6.3 | |
| Jan-1991 | 6.4 | 5.82 |
| Feb-1991 | 6.6 | |
| Mar-1991 | 6.8 | |
| Apr-1991 | 6.7 | 5.79 |
| May-1991 | 6.9 | |
| Jun-1991 | 6.9 | |
| Jul-1991 | 6.8 | 5.77 |
| Aug-1991 | 6.9 | |
| Sep-1991 | 6.9 | |
| Oct-1991 | 7.0 | 5.74 |
| Nov-1991 | 7.0 | |
| Dec-1991 | 7.3 | |
| Jan-1992 | 7.3 | 5.71 |
| Feb-1992 | 7.4 | |
| Mar-1992 | 7.4 | |
| Apr-1992 | 7.4 | 5.68 |
| May-1992 | 7.6 | |
| Jun-1992 | 7.8 | |
| Jul-1992 | 7.7 | 5.65 |
| Aug-1992 | 7.6 | |
| Sep-1992 | 7.6 | |
| Oct-1992 | 7.3 | 5.61 |
| Nov-1992 | 7.4 | |
| Dec-1992 | 7.4 | |
| Jan-1993 | 7.3 | 5.58 |
| Feb-1993 | 7.1 | |
| Mar-1993 | 7.0 | |
| Apr-1993 | 7.1 | 5.54 |
| May-1993 | 7.1 | |
| Jun-1993 | 7.0 | |
| Jul-1993 | 6.9 | 5.51 |
| Aug-1993 | 6.8 | |
| Sep-1993 | 6.7 | |
| Oct-1993 | 6.8 | 5.48 |
| Nov-1993 | 6.6 | |
| Dec-1993 | 6.5 | |
| Jan-1994 | 6.6 | 5.44 |
| Feb-1994 | 6.6 | |
| Mar-1994 | 6.5 | |
| Apr-1994 | 6.4 | 5.41 |
| May-1994 | 6.1 | |
| Jun-1994 | 6.1 | |
| Jul-1994 | 6.1 | 5.38 |
| Aug-1994 | 6.0 | |
| Sep-1994 | 5.9 | |
| Oct-1994 | 5.8 | 5.35 |
| Nov-1994 | 5.6 | |
| Dec-1994 | 5.5 | |
| Jan-1995 | 5.6 | 5.33 |
| Feb-1995 | 5.4 | |
| Mar-1995 | 5.4 | |
| Apr-1995 | 5.8 | 5.30 |
| May-1995 | 5.6 | |
| Jun-1995 | 5.6 | |
| Jul-1995 | 5.7 | 5.28 |
| Aug-1995 | 5.7 | |
| Sep-1995 | 5.6 | |
| Oct-1995 | 5.5 | 5.25 |
| Nov-1995 | 5.6 | |
| Dec-1995 | 5.6 | |
| Jan-1996 | 5.6 | 5.23 |
| Feb-1996 | 5.5 | |
| Mar-1996 | 5.5 | |
| Apr-1996 | 5.6 | 5.21 |
| May-1996 | 5.6 | |
| Jun-1996 | 5.3 | |
| Jul-1996 | 5.5 | 5.19 |
| Aug-1996 | 5.1 | |
| Sep-1996 | 5.2 | |
| Oct-1996 | 5.2 | 5.17 |
| Nov-1996 | 5.4 | |
| Dec-1996 | 5.4 | |
| Jan-1997 | 5.3 | 5.15 |
| Feb-1997 | 5.2 | |
| Mar-1997 | 5.2 | |
| Apr-1997 | 5.1 | 5.13 |
| May-1997 | 4.9 | |
| Jun-1997 | 5.0 | |
| Jul-1997 | 4.9 | 5.12 |
| Aug-1997 | 4.8 | |
| Sep-1997 | 4.9 | |
| Oct-1997 | 4.7 | 5.10 |
| Nov-1997 | 4.6 | |
| Dec-1997 | 4.7 | |
| Jan-1998 | 4.6 | 5.09 |
| Feb-1998 | 4.6 | |
| Mar-1998 | 4.7 | |
| Apr-1998 | 4.3 | 5.07 |
| May-1998 | 4.4 | |
| Jun-1998 | 4.5 | |
| Jul-1998 | 4.5 | 5.06 |
| Aug-1998 | 4.5 | |
| Sep-1998 | 4.6 | |
| Oct-1998 | 4.5 | 5.05 |
| Nov-1998 | 4.4 | |
| Dec-1998 | 4.4 | |
| Jan-1999 | 4.3 | 5.04 |
| Feb-1999 | 4.4 | |
| Mar-1999 | 4.2 | |
| Apr-1999 | 4.3 | 5.03 |
| May-1999 | 4.2 | |
| Jun-1999 | 4.3 | |
| Jul-1999 | 4.3 | 5.03 |
| Aug-1999 | 4.2 | |
| Sep-1999 | 4.2 | |
| Oct-1999 | 4.1 | 5.02 |
| Nov-1999 | 4.1 | |
| Dec-1999 | 4.0 | |
| Jan-2000 | 4.0 | 5.01 |
| Feb-2000 | 4.1 | |
| Mar-2000 | 4.0 | |
| Apr-2000 | 3.8 | 5.01 |
| May-2000 | 4.0 | |
| Jun-2000 | 4.0 | |
| Jul-2000 | 4.0 | 5.01 |
| Aug-2000 | 4.1 | |
| Sep-2000 | 3.9 | |
| Oct-2000 | 3.9 | 5.00 |
| Nov-2000 | 3.9 | |
| Dec-2000 | 3.9 | |
| Jan-2001 | 4.2 | 5.00 |
| Feb-2001 | 4.2 | |
| Mar-2001 | 4.3 | |
| Apr-2001 | 4.4 | 5.00 |
| May-2001 | 4.3 | |
| Jun-2001 | 4.5 | |
| Jul-2001 | 4.6 | 5.00 |
| Aug-2001 | 4.9 | |
| Sep-2001 | 5.0 | |
| Oct-2001 | 5.3 | 5.00 |
| Nov-2001 | 5.5 | |
| Dec-2001 | 5.7 | |
| Jan-2002 | 5.7 | 5.00 |
| Feb-2002 | 5.7 | |
| Mar-2002 | 5.7 | |
| Apr-2002 | 5.9 | 5.00 |
| May-2002 | 5.8 | |
| Jun-2002 | 5.8 | |
| Jul-2002 | 5.8 | 5.00 |
| Aug-2002 | 5.7 | |
| Sep-2002 | 5.7 | |
| Oct-2002 | 5.7 | 5.00 |
| Nov-2002 | 5.9 | |
| Dec-2002 | 6.0 | |
| Jan-2003 | 5.8 | 5.00 |
| Feb-2003 | 5.9 | |
| Mar-2003 | 5.9 | |
| Apr-2003 | 6.0 | 5.00 |
| May-2003 | 6.1 | |
| Jun-2003 | 6.3 | |
| Jul-2003 | 6.2 | 5.00 |
| Aug-2003 | 6.1 | |
| Sep-2003 | 6.1 | |
| Oct-2003 | 6.0 | 5.00 |
| Nov-2003 | 5.8 | |
| Dec-2003 | 5.7 | |
| Jan-2004 | 5.7 | 5.00 |
| Feb-2004 | 5.6 | |
| Mar-2004 | 5.8 | |
| Apr-2004 | 5.6 | 5.00 |
| May-2004 | 5.6 | |
| Jun-2004 | 5.6 | |
| Jul-2004 | 5.5 | 5.00 |
| Aug-2004 | 5.4 | |
| Sep-2004 | 5.4 | |
| Oct-2004 | 5.5 | 5.00 |
| Nov-2004 | 5.4 | |
| Dec-2004 | 5.4 | |
| Jan-2005 | 5.3 | 5.00 |
| Feb-2005 | 5.4 | |
| Mar-2005 | 5.2 | |
| Apr-2005 | 5.2 | 5.00 |
| May-2005 | 5.1 | |
| Jun-2005 | 5.0 | |
| Jul-2005 | 5.0 | 5.00 |
| Aug-2005 | 4.9 | |
| Sep-2005 | 5.0 | |
| Oct-2005 | 5.0 | 4.98 |
| Nov-2005 | 5.0 | |
| Dec-2005 | 4.9 | |
| Jan-2006 | 4.7 | 4.97 |
| Feb-2006 | 4.8 | |
| Mar-2006 | 4.7 | |
| Apr-2006 | 4.7 | 4.97 |
| May-2006 | 4.6 | |
| Jun-2006 | 4.6 | |
| Jul-2006 | 4.7 | 4.96 |
| Aug-2006 | 4.7 | |
| Sep-2006 | 4.5 | |
| Oct-2006 | 4.4 | 4.95 |
| Nov-2006 | 4.5 | |
| Dec-2006 | 4.4 | |
| Jan-2007 | 4.6 | 4.95 |
| Feb-2007 | 4.5 | |
| Mar-2007 | 4.4 | |
| Apr-2007 | 4.5 | 4.94 |
| May-2007 | 4.4 | |
| Jun-2007 | 4.6 | |
| Jul-2007 | 4.7 | 4.94 |
| Aug-2007 | 4.6 | |
| Sep-2007 | 4.7 | |
| Oct-2007 | 4.7 | 4.93 |
| Nov-2007 | 4.7 | |
| Dec-2007 | 5.0 | |
| Jan-2008 | 5.0 | 4.93 |
| Feb-2008 | 4.9 | |
| Mar-2008 | 5.1 | |
| Apr-2008 | 5.0 | 4.93 |
| May-2008 | 5.4 | |
| Jun-2008 | 5.6 | |
| Jul-2008 | 5.8 | 4.92 |
| Aug-2008 | 6.1 | |
| Sep-2008 | 6.1 | |
| Oct-2008 | 6.5 | 4.92 |
| Nov-2008 | 6.8 | |
| Dec-2008 | 7.3 | |
| Jan-2009 | 7.8 | 4.92 |
| Feb-2009 | 8.3 | |
| Mar-2009 | 8.7 | |
| Apr-2009 | 9.0 | 4.97 |
| May-2009 | 9.4 | |
| Jun-2009 | 9.5 | |
| Jul-2009 | 9.5 | 5.00 |
| Aug-2009 | 9.6 | |
| Sep-2009 | 9.8 | |
| Oct-2009 | 10.0 | 5.02 |
| Nov-2009 | 9.9 | |
| Dec-2009 | 9.9 | |
| Jan-2010 | 9.8 | 5.06 |
| Feb-2010 | 9.8 | |
| Mar-2010 | 9.9 | |
| Apr-2010 | 9.9 | 5.08 |
| May-2010 | 9.6 | |
| Jun-2010 | 9.4 | |
| Jul-2010 | 9.4 | 5.10 |
| Aug-2010 | 9.5 | |
| Sep-2010 | 9.5 | |
| Oct-2010 | 9.4 | 5.11 |
| Nov-2010 | 9.8 | |
| Dec-2010 | 9.3 | |
| Jan-2011 | 9.1 | 5.13 |
| Feb-2011 | 9.0 | |
| Mar-2011 | 9.0 | |
| Apr-2011 | 9.1 | 5.14 |
| May-2011 | 9.0 | |
| Jun-2011 | 9.1 | |
| Jul-2011 | 9.0 | 5.15 |
| Aug-2011 | 9.0 | |
| Sep-2011 | 9.0 | |
| Oct-2011 | 8.8 | 5.15 |
| Nov-2011 | 8.6 | |
| Dec-2011 | 8.5 | |
| Jan-2012 | 8.3 | 5.13 |
| Feb-2012 | 8.3 | |
| Mar-2012 | 8.2 | |
| Apr-2012 | 8.2 | 5.12 |
| May-2012 | 8.2 | |
| Jun-2012 | 8.2 | |
| Jul-2012 | 8.2 | 5.10 |
| Aug-2012 | 8.1 | |
| Sep-2012 | 7.8 | |
| Oct-2012 | 7.8 | 5.07 |
| Nov-2012 | 7.7 | |
| Dec-2012 | 7.9 | |
| Jan-2013 | 8.0 | 5.05 |
| Feb-2013 | 7.7 | |
| Mar-2013 | 7.5 | |
| Apr-2013 | 7.6 | 5.03 |
| May-2013 | 7.5 | |
| Jun-2013 | 7.5 | |
| Jul-2013 | 7.3 | 5.00 |
| Aug-2013 | 7.2 | |
| Sep-2013 | 7.2 | |
| Oct-2013 | 7.2 | 4.98 |
| Nov-2013 | 6.9 | |
| Dec-2013 | 6.7 | |
| Jan-2014 | 6.6 | 4.95 |
| Feb-2014 | 6.7 | |
| Mar-2014 | 6.7 | |
| Apr-2014 | 6.3 | 4.93 |
| May-2014 | 6.3 | |
| Jun-2014 | 6.1 | |
| Jul-2014 | 6.2 | 4.92 |
| Aug-2014 | 6.2 | |
| Sep-2014 | 5.9 | |
| Oct-2014 | 5.7 | 4.88 |
| Nov-2014 | 5.8 | |
| Dec-2014 | 5.6 | |
| Jan-2015 | 5.7 | 4.83 |
| Feb-2015 | 5.5 | |
| Mar-2015 | 5.5 | |
| Apr-2015 | 5.4 | 4.79 |
| May-2015 | 5.5 | |
| Jun-2015 | 5.3 | |
| Jul-2015 | 5.2 | 4.77 |
| Aug-2015 | 5.1 | |
| Sep-2015 | 5.0 | |
| Oct-2015 | 5.0 | 4.76 |
| Nov-2015 | 5.0 | |
| Dec-2015 | 5.0 | |
| Jan-2016 | 4.9 | 4.75 |
| Feb-2016 | 4.9 | |
| Mar-2016 | 5.0 | |
| Apr-2016 | 5.0 | 4.75 |
| May-2016 | 4.7 | |
| Jun-2016 | 4.9 | |
| Jul-2016 | 4.9 | 4.74 |
| Aug-2016 | 4.9 | |
| Sep-2016 | 5.0 | |
| Oct-2016 | 4.9 | 4.74 |
| Nov-2016 | 4.6 | |
| Dec-2016 | 4.7 | |
| Jan-2017 | 4.8 | 4.74 |
| Feb-2017 | 4.7 | |
| Mar-2017 | 4.5 | |
| Apr-2017 | 4.4 | 4.74 |
| May-2017 | 4.3 | |
| Jun-2017 | 4.3 | |
| Jul-2017 | 4.3 | 4.74 |
| Aug-2017 | 4.4 | |
| Sep-2017 | 4.2 | |
| Oct-2017 | 4.1 | 4.74 |
| Nov-2017 | 4.1 | |
| Dec-2017 | 4.1 | |
| Jan-2018 | 4.1 | 4.73 |
| Feb-2018 | 4.1 | |
| Mar-2018 | 4.1 |
Note: NAIRU refers to the nonaccelerating inflation rate of unemployment (another term for the natural rate of unemployment).
Source: Data on the natural rate of unemployment come from the Congressional Budget Office, “Online Data on Potential Output and Its Underlying Inputs,” 2018; data on actual unemployment rate come from the Bureau of Labor Statistics, “Series ID: LNS14000000. (Seas) Unemployment Rate,” accessed August 2018. Shaded areas represent recessions.
This chart appears in:
- Let’s not give up on the American Dream: Testimony before the Economic Policy Subcommittee of the U.S. Senate Committee on Banking, Housing, and Urban Affairs
- OLD_VERSION_Testimony to the Economic Policy Subcommittee of the U.S. Senate Committee on Banking, Housing, and Urban Affairs on ‘Economic Mobility: Is the American Dream in Crisis?’
Previous chart: « Number of salaried workers in Washington left behind by the Trump overtime proposal, by demographic group, projected for 2020
Next chart: Unemployment rate by race/ethnicity and education, 2000 and 2018 »