United States Unemployment Rate

The US unemployment rate dropped to 4.8 percent in September 2021, from 5.2 percent in the previous month and below market expectations of 5.1 percent. It was the lowest rate since March 2020, as many people left the labor force and the negative effects of Hurricane Ida and the Delta variant's summer spike started to fade. Still, the jobless rate remained well above the pre-crisis level of about 3.5 percent due to ongoing labor shortages but is seen declining further in the coming months as companies fill widespread vacancies and as more workers are expected to go back into the labor force.