The trend over time.
The latest available read: Unemployment Rate is at 4.2% as of September 2026. Source: FRED · UNRATE. CSV and PNG downloads cover the selected date range.
What Unemployment Rate measures.
The share of people in the labor force who are not working but are actively looking for work, from the Bureau of Labor Statistics household survey. People who have stopped looking are not counted as unemployed.
It is a lagging indicator: it tends to be low late in an expansion and rises after a downturn has begun. A steady climb of a few tenths of a point over several months has historically been a warning sign.
Why it matters.
A stable unemployment rate at this level suggests job security for workers, but the recent uptick to 4.5% earlier this year signals labor market stress that can ripple into wage growth and hiring decisions. For borrowers and savers, sustained employment stability helps keep interest rates and inflation predictable.
Where it fits.
Unemployment Rate is covered on the Jobs & Labor page.