Unemployment rate fell to a 50-year low in September 2019. The trend continued until February 2020. Unemployment reached a record-high in April 2020.
The rate fell to a 50-year-low in September 2019 with the addition of 136,000 jobs, as per figures from the Labor Department. The unemployment rate continued to hover around 3.5%-3.6% mark in the following months until February 2020, following which unemployment rates started soaring due to the outbreak of the coronavirus pandemic. In April 2020, the unemployment rate touched a record-high of 14.7 percent – the highest level since the Great Depression in 1929. The unemployment rate continues to be in double digits as of July 2020.