Question

The financial crisis of $2007-2009$ sent the United States into its worst recession since the end of World War II, with the unemployment rate rising to above $10\%$. Go to Federal Reserve Economic Data | FRED | St. Louis Fed (stlouisfed.org) and click on the Series ID link "UNRATE" (Civilian Unemployment Rate). What has happened to the unemployment rate since the time of the last reported value in Figure $16$?

Short answer

The unemployment trend since the last recessionary era was recorded.

Step-by-step solution

Step 1. Concept of unemployment 

The amount of people out of work for a specific period is referred to as unemployment.

Unemployment is measured as a proportion of the total workforce. The term "recession" refers to a period in which the country's gross domestic product (GDP) falls for more than one quarter and the economy suffers a temporary decline.

Step 2. Explanation

Since the end of the latest recession in $2009$, the jobless rate has risen to $10.6\%$ in January $2010$. After January $2010$, the unemployment rate fluctuated throughout the year, reaching a low of $9\%$ in September $2010$. According to the most recent figures, the unemployment rate in the fourth quarter was $4.5$ percent in January, $4.4$ percent in February, $4.1$ percent in March, and $3.7$ percent in April. The most recent statistics reveals that the economy is growing and that the unemployment rate is decreasing.