United States Unemployment Rate

The unemployment rate in the United States was at 4.1% in October of 2024, remaining unchanged from the three-month low in the prior month, and aligned with market expectations. The number of unemployed individuals was broadly unchanged at 7 million. Among those without employment, permanent job losers rose slightly to 1.8 million, while temporary layoffs were little changed at 846 thousand. In turn, long-term unemployment was little changed from the previous month at 1.6 million. In the meantime, the labor force participation rate eased by 0.1 percentage points to 62.6%.