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.
According to data from the U.S. Bureau of Labor Statistics, the unemployment rate in the U.S. fell to its lowest level since December 1969 in September 2019. Over 263,000 jobs were added, bringing the jobless rate to a record low of 3.6%.
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.