What was the US unemployment rate in 1930?
In 1930, after the stockmarket crash and the first bank runs, unemployment rose from 3.2 to 8.7 percent.
Here are the figures for the unemployment rate ih the Great Depression through 1938:
1929 - 3.2 percent
1930 - 8.7 percent
1931 - 15.9 percent
1932 - 23.6 percent
1933 - 24.9 percent (the highest during the Great Depression)
1934 - 21.7 percent
1935 - 20.1 percent
1936 - 16.9 percent
1937 - 14.3 percent
1938 - 19.0 percent
The Official Unemployment rate (U-3) in US for August 2011 was 9.1. Below are the other unemployment rates in US for August 2011 : U-1 Unemployment rate : 5.4 U-2 Unemployment rate : 5.3 U-3 Unemployment rate : 9.1 U-4 Unemployment rate : 9.7 U-5 Unemployment rate : 10.6 U-6 Unemployment rate : 16.2
The United States has a higher unemployment rate than Canada at this time. For several decades Canada typically had reported its unemployment rate as somewhat higher than the US rate. For example, in June 2008 the reported unemployment in the US was 5.5 percent and 6.1% in Canada. However, a closer examination reveals that the two countries measure the unemployment rate differently. Craig Riddell, a University of British Columbia economist, found that a 0.9% difference…
As of October, 2009 the unemployment rate in the US was 10.2%. See the Related Link below. According to the Tribune Washington Bureau's reporter, Peter Nicholas on November 27, 2009 the US unemployment rate was 10.2 % and nearly 16 million people were unemployed. According to the U. S. Department of Labor , the unemployment rate for Sept. 2009 was 9.8%. For a complete, recent history of unemployment rates, see the Related Link below.
Does the overall unemployment rate provide an accurate picture of the impact of unemployment on all US population groups?
According to the Tribune Washington Bureau's reporter, Peter Nicholas on November 27, 2009 the US unemployment rate was 10.2 % and nearly 16 million people were unemployed. According to the U. S. Department of Labor , the unemployment rate for Sept. 2009 was 9.8%. For a complete, recent history of unemployment rates, see the Related Link below.
Natural Rate of Unemployment -The natural rate of unemployment is unemployment that does not go away on its own even in the long run. -It is the amount of unemployment that the economy normally experiences.Cyclical Unemployment -Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its natural rate. -It is associated with with short-term ups and downs of the business cycle.
The natural rate of unemployment is the rate that holds over the long-run in equilibrium. In Classical economics, this rate is 0%. With other assumptions, such as frictional and structural unemployment, you will get a natural unemployment rate above 0%. Source: http://www.transtutors.com/homework-help/macro-economics/unemployment/full-employment/
It is well known that in a free market economy, such as the one in the US, 100% employment is not realistic. The measure of a healthy amount of unemployment is based on prosperous times and the steady amount of unemployment that goes along with it. Using that as a criteria, then an unemployment rate of 4.5 to 5% is normal and expected. The lower the better of course.
The impact of higher rate of unemployment of a country is immense. It becomes the primary duty of the country to reduce the unemployment rate to a controllable level as generation of employment through creation of more industries is a positive indicator of economic growth of the country.The US economy under President Obama is reviving have been able to reduce the unemployment rate, by generating more enemployment.
As of July 8, 2009, the national unemployment rate in the US was 9.7%. For current information, you can easily access reports from the U.S. Bureau of Labor Statistics by using Google's public data search. The above statistic was found at www.google.com with the query "unemployment rate USA". You can also specify by state and county.