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

Unemployment rate has been below 4% for over fifteen months, according to Charles Schwab

James Van Straten
Jun. 12, 2023 at 4:59 pm UTC
1 min read
Updated: Jun. 12, 2023 at 4:59 pm UTC

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)
Unemployment Rate: (Source: Liz Ann Sonders)
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James Van Straten
James Van Straten
Former Lead Analyst 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.

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