Did US unemployment fall to the lowest rate in 50 years under Biden?
By Gabriel Vinocur
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YES
The unemployment rate was 3.4% in January and April 2023, the lowest in 55 years.
The last time the unemployment rate in the U.S. was this low was in the first five months of 1969. The unemployment rate has never been less than 3.4% since October 1953.
The average unemployment rate during the Biden Administration (February 2021 through May 2024) was 4.1%, with the highest rates of over 6% from February 2021 to April 2021. The unemployment rate remained below 4% in the 27 months from February 2022 through April 2024. This is the longest stretch of sub-4% unemployment since the end of the 1960s.
The most recent unemployment rate in June 2024 was recorded at 4.1%.
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Sources
Google Docs Unemployment Rate 1948 to 2024
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