Labor Market Strength
February 15, 2024

Why Hasn’t the U.S. Unemployment Rate Risen Further?

Few economic data points receive as much attention as the unemployment rate.  It serves as a crucial gauge of labor market health and offers insight into the economy and consumer spending power.  The unemployment rate is currently 3.7%, which is low compared to historical standards.  Traditionally, one would expect to see unemployment rise as interest rates rise, the economy slows, and businesses scale back operations and reduce their workforce in response to the changing economic environment.

Economic Perspectives: Labor Market