Current Unemployment Rate 2024

Current Unemployment Rate 2024. If data show that employers added far fewer positions than expected and if unemployment edges even higher from its current level of 4.3%, then that could push the fed to consider more aggressive. The rise in lfpr was accompanied by an increase in the worker population ratio (percentage of labour force that is employed) and a decrease in the open unemployment rate (percentage of the labour force that is unemployed but seeking work).

The quarterly urban unemployment rate for people aged 15 years and above declined to 6.7 per cent in the quarter ending march 2024 from 6.8 per cent in the corresponding quarter of the previous year, accompanied by a rise in the wpr and lfpr. The unemployment rate trended up since april 2023, rising 1.3 percentage points over the period.