Assessing the Recent Rise in Unemployment

Greeshma Avaradi, Marianna Kudlyak, Brandon E. Miskanic and David Wiczer

FRBSF Economic Letter, 2025, vol. 2025, issue 09, 6

Abstract: The unemployment rate has risen over half a percentage point since the second quarter of 2023. Individual survey data underlying the unemployment rate can help in assessing which labor market transitions account for this rise. One dominant factor appears to be a fall in the job-finding rate—the share of unemployed individuals finding employment. The duration of unemployment has also increased recently. In past decades, these patterns have frequently occurred during the onset of recessions, which suggests that these data should be closely monitored.

Keywords: unemployment; survey data; unemployment rate; labor market transitions; pandemic; covid19 (search for similar items in EconPapers)
Date: 2025
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