US unemployment rate
The US unemployment rate was 4.2% in September 2026, up 0.1 percentage points from the month before.
Over the past year it has fallen by 0.2 percentage points. The latest reading is higher than 20% of all readings since January 1948. It was last this low in June 2025.
- Latest
- 4.2%
- 1 month ago
- 4.1%
- 1 year ago
- 4.4%
- Change over 1 year
- −0.2 pp
- History percentile
- 23th
- History since
- January 1948
What it is
The share of the labour force that is jobless and actively looking for work, from the Bureau of Labor Statistics' monthly household survey.
Why it matters for investors
Employment is one half of the Federal Reserve's dual mandate. A rising unemployment rate usually leads to lower interest rate expectations and weaker consumer spending.
How to read it
The trend matters more than any single month, because the survey has a margin of error. The Sahm rule turns that trend into a recession signal.
Method and sources
Source: US Bureau of Labor Statistics, retrieved from FRED, Federal Reserve Bank of St. Louis (series UNRATE). Figures are published with a lag and can be revised.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
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