Economic Growth and the Unemployment Rate, April 18, 2012

摘要

A persistently high unemployment rate is of concern to Congress for a variety of reasons, including its negative consequences for the economic well-being of individuals and its impact on the federal budget (i.e., deficit growth due to lower revenue and higher expenditures). The unemployment rate was 9.5% when the economy emerged from the 11th postwar recession in June 2009. It climbed further to peak at 10.1% in October 2009. The rate then slowly declined before stalling at about 9.0% for most of 2011. Although the unemployment rate has resumed its decline, at slightly above 8.0% in early 2012, it remains at an historically high level.