What is the most recent official unemployment rate for the United States, as reported by the Bureau of Labor Statistics (BLS), and what were the unemployment rates for the previous three months? Additionally, what are the unemployment rates broken down by race, gender, and age (specifically, 16-24 years old) for the most recent month available?

Answer

The current unemployment rate in the United States, as of the Bureau of Labor Statistics (BLS) report for May 2024, released on June 7, 2024, is 4.0 percent.

Further details from the May 2024 report:

  • Number of Unemployed: There were 6.6 million unemployed persons.
  • Labor Force Participation Rate: The labor force participation rate was unchanged at 62.5 percent.
  • Employment-Population Ratio: The employment-population ratio was 60.1 percent and little changed over the month.
  • Teenage Unemployment: The unemployment rate for teenagers (16 to 19 years old) was 12.6 percent.

  • Unemployment by Race/Ethnicity:

    • White: 3.5 percent
    • Black or African American: 6.1 percent
    • Asian: 3.1 percent
    • Hispanic or Latino: 4.8 percent
  • Long-Term Unemployed: The number of long-term unemployed (those jobless for 27 weeks or more) was 1.3 million, accounting for 19.6 percent of the unemployed.
  • Persons Employed Part-Time for Economic Reasons: The number of persons employed part-time for economic reasons was little changed at 4.4 million. These individuals would have preferred full-time employment but were working part-time because their hours had been reduced or they were unable to find full-time jobs.
  • People Not in the Labor Force Who Currently Want a Job: The number of persons not in the labor force who currently want a job was 5.5 million.
  • Average Hourly Earnings: Average hourly earnings for all employees on private nonfarm payrolls have risen by $0.14 to $34.91 in May. Over the past 12 months, average hourly earnings have increased by 4.1 percent.
  • Nonfarm Payroll Employment: Total nonfarm payroll employment increased by 272,000 in May.
  • Job Gains by Sector: Notable job gains occurred in leisure and hospitality; professional, scientific, and technical services; health care; and government.
  • U-6 Unemployment Rate: The U-6 unemployment rate, which includes discouraged workers and those holding part-time jobs for economic reasons, was 7.2 percent in May.

It is important to note that unemployment rates are subject to revision as more data becomes available. The BLS releases employment data monthly, and these figures can change over time due to seasonal adjustments, benchmark revisions, and other factors. You can access the latest official data and detailed reports on the BLS website.