Insights

US unemployment rate under 4% for longest stretch since 1970s

exchange68September 13, 2024

0 0 1 minute read

Quick Take

Liz Ann Sonders, the chief investment strategist at Charles Schwab, pointed out that the unemployment rate in the U.S. is below 4%, the longest period under that level since the 1970s.
The unemployment rate is currently 3.7%, up from 3.4% in May.
The unemployment rate is continuing to increase due to rising interest rates as it puts further pressure on jobs.
The Federal Reserve, without saying it out loud, wants to break the strong labor market as this will be one way of reducing inflation.
The expectation is labor market stays strong but will continue to rise slowly as the year progresses.

Unemployment Rate: (Source: Liz Ann Sonders)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.