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Figure 1. Change in Private Payroll Employment
In Thousands
Month 3-month moving average
Mar-01 -40.33
Apr-01 -134.67
May-01 -159.00
Jun-01 -215.33
Jul-01 -163.33
Aug-01 -199.00
Sep-01 -209.33
Oct-01 -273.00
Nov-01 -325.67
Dec-01 -305.67
Jan-02 -234.67
Feb-02 -172.33
Mar-02 -125.00
Apr-02 -106.67
May-02 -80.33
Jun-02 -54.67
Jul-02 -54.33
Aug-02 -46.33
Sep-02 -54.33
Oct-02 13.33
Nov-02 27.33
Dec-02 -25.33
Jan-03 -42.33
Feb-03 -90.00
Mar-03 -99.67
Apr-03 -130.00
May-03 -71.33
Jun-03 -18.00
Jul-03 -7.33
Aug-03 -3.00
Sep-03 63.67
Oct-03 112.00
Nov-03 113.67
Dec-03 96.00
Jan-04 105.00
Feb-04 103.33
Mar-04 167.00
Apr-04 184.67
May-04 277.33
Jun-04 209.00
Jul-04 148.33
Aug-04 79.00
Sep-04 98.33
Oct-04 193.67
Nov-04 168.67
Dec-04 162.33
Jan-05 85.00
Feb-05 153.00
Mar-05 157.00
Apr-05 240.67
May-05 211.33
Jun-05 250.00
Jul-05 228.00
Aug-05 242.67
Sep-05 183.67
Oct-05 122.33
Nov-05 161.33
Dec-05 180.00
Jan-06 253.00
Feb-06 246.67
Mar-06 286.00
Apr-06 236.00
May-06 143.33
Jun-06 84.00
Jul-06 81.67
Aug-06 127.67
Sep-06 129.67
Oct-06 78.67
Nov-06 93.33
Dec-06 120.00
Jan-07 194.67
Feb-07 150.67
Mar-07 152.67
Apr-07 91.67
May-07 113.00
Jun-07 76.00
Jul-07 59.33
Aug-07 -5.33
Sep-07 -19.00
Oct-07 2.67
Nov-07 52.00
Dec-07 61.00
Jan-08 54.33
Feb-08 -16.00
Mar-08 -69.00
Apr-08 -154.33
May-08 -181.00
Jun-08 -220.67
Jul-08 -235.33
Aug-08 -261.33
Sep-08 -326.00
Oct-08 -399.67
Nov-08 -567.33
Dec-08 -645.00
Jan-09 -764.67
Feb-09 -740.67
Mar-09 -783.67
Apr-09 -771.33
May-09 -633.67
Jun-09 -513.33
Jul-09 -344.67
Aug-09 -313.67
Sep-09 -233.00
Oct-09 -211.67
Nov-09 -152.67
Dec-09 -131.33
Jan-10 -67.33
Feb-10 -62.33
Mar-10 24.67
Apr-10 102.33
May-10 139.33
Jun-10 123.00
Jul-10 89.33
Aug-10 104.00
Sep-10 111.67
Oct-10 146.33
Nov-10 148.33
Dec-10 156.67
Jan-11 131.00
Feb-11 172.00
Mar-11 212.33
Apr-11 260.67
May-11 211.00
Jun-11 158.00
Jul-11 128.33
Aug-11 109.67
Sep-11 147.67
Oct-11 135.67
Nov-11 177.67
Dec-11 183.67
Jan-12 232.33
Feb-12 250.67

Note: NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 2. Aggregate Hours and Workweek
Month Workweek, production workers, by hours Workweek, all workers, by hours Aggregate hours, production workers, 2007=100 Aggregate hours, all workers, 2007=100
Jan-01 34.2 ND 96.66 ND
Feb-01 34.1 ND 96.28 ND
Mar-01 34.0 ND 96.00 ND
Apr-01 34.0 ND 95.73 ND
May-01 34.0 ND 95.63 ND
Jun-01 34.0 ND 95.45 ND
Jul-01 34.0 ND 95.35 ND
Aug-01 33.9 ND 94.89 ND
Sep-01 33.8 ND 94.33 ND
Oct-01 33.7 ND 93.77 ND
Nov-01 33.8 ND 93.67 ND
Dec-01 33.9 ND 93.86 ND
Jan-02 33.8 ND 93.49 ND
Feb-02 33.8 ND 93.49 ND
Mar-02 33.9 ND 93.67 ND
Apr-02 33.9 ND 93.58 ND
May-02 33.9 ND 93.39 ND
Jun-02 34.0 ND 93.58 ND
Jul-02 33.8 ND 92.84 ND
Aug-02 33.9 ND 93.12 ND
Sep-02 34.0 ND 93.30 ND
Oct-02 33.8 ND 92.84 ND
Nov-02 33.8 ND 92.84 ND
Dec-02 33.8 ND 92.65 ND
Jan-03 33.8 ND 92.65 ND
Feb-03 33.7 ND 92.18 ND
Mar-03 33.8 ND 92.18 ND
Apr-03 33.6 ND 91.62 ND
May-03 33.7 ND 91.81 ND
Jun-03 33.7 ND 91.81 ND
Jul-03 33.6 ND 91.53 ND
Aug-03 33.6 ND 91.62 ND
Sep-03 33.6 ND 91.72 ND
Oct-03 33.7 ND 92.09 ND
Nov-03 33.8 ND 92.37 ND
Dec-03 33.6 ND 91.90 ND
Jan-04 33.7 ND 92.28 ND
Feb-04 33.8 ND 92.56 ND
Mar-04 33.7 ND 92.56 ND
Apr-04 33.7 ND 92.84 ND
May-04 33.8 ND 93.49 ND
Jun-04 33.6 ND 93.02 ND
Jul-04 33.7 ND 93.39 ND
Aug-04 33.8 ND 93.86 ND
Sep-04 33.7 ND 93.77 ND
Oct-04 33.7 ND 94.14 ND
Nov-04 33.7 ND 94.14 ND
Dec-04 33.8 ND 94.61 ND
Jan-05 33.7 ND 94.42 ND
Feb-05 33.7 ND 94.70 ND
Mar-05 33.7 ND 94.89 ND
Apr-05 33.8 ND 95.45 ND
May-05 33.7 ND 95.35 ND
Jun-05 33.7 ND 95.63 ND
Jul-05 33.7 ND 95.82 ND
Aug-05 33.7 ND 96.00 ND
Sep-05 33.8 ND 96.38 ND
Oct-05 33.8 ND 96.56 ND
Nov-05 33.8 ND 96.84 ND
Dec-05 33.8 ND 97.03 ND
Jan-06 33.9 ND 97.68 ND
Feb-06 33.8 ND 97.68 ND
Mar-06 33.8 34.4 98.06 98.1
Apr-06 33.9 34.6 98.52 98.8
May-06 33.7 34.5 97.96 98.5
Jun-06 33.9 34.6 98.61 98.9
Jul-06 33.9 34.6 98.80 99.0
Aug-06 33.9 34.5 98.89 98.9
Sep-06 33.8 34.5 98.71 98.9
Oct-06 33.9 34.5 98.99 98.9
Nov-06 33.8 34.6 98.89 99.4
Dec-06 33.9 34.7 99.36 99.8
Jan-07 33.8 34.5 99.36 99.4
Feb-07 33.8 34.5 99.36 99.5
Mar-07 33.9 34.6 99.92 99.9
Apr-07 33.8 34.6 99.73 100.0
May-07 33.8 34.6 99.83 100.1
Jun-07 33.9 34.6 100.29 100.1
Jul-07 33.8 34.6 100.01 100.1
Aug-07 33.8 34.6 100.01 100.1
Sep-07 33.8 34.6 100.11 100.1
Oct-07 33.8 34.5 100.20 99.8
Nov-07 33.8 34.6 100.29 100.2
Dec-07 33.8 34.6 100.39 100.2
Jan-08 33.7 34.6 100.11 100.3
Feb-08 33.8 34.6 100.29 100.2
Mar-08 33.8 34.6 100.20 100.1
Apr-08 33.8 34.6 100.01 99.9
May-08 33.7 34.6 99.55 99.7
Jun-08 33.7 34.6 99.36 99.5
Jul-08 33.6 34.5 98.80 99.0
Aug-08 33.7 34.5 98.89 98.7
Sep-08 33.6 34.4 98.24 98.1
Oct-08 33.5 34.4 97.50 97.7
Nov-08 33.4 34.2 96.47 96.4
Dec-08 33.3 34.1 95.54 95.6
Jan-09 33.3 34.2 94.79 95.1
Feb-09 33.3 34.0 94.23 93.9
Mar-09 33.1 33.8 92.93 92.7
Apr-09 33.1 33.8 92.28 92.0
May-09 33.1 33.8 92.00 91.8
Jun-09 33.0 33.8 91.34 91.4
Jul-09 33.1 33.8 91.34 91.2
Aug-09 33.1 33.8 91.16 91.0
Sep-09 33.1 33.8 91.06 90.8
Oct-09 33.0 33.8 90.60 90.6
Nov-09 33.2 33.9 91.16 90.9
Dec-09 33.2 33.9 91.06 90.8
Jan-10 33.3 34.0 91.34 91.0
Feb-10 33.2 33.9 90.97 90.7
Mar-10 33.3 34.0 91.44 91.1
Apr-10 33.4 34.1 91.81 91.5
May-10 33.4 34.2 91.90 91.9
Jun-10 33.4 34.1 92.00 91.7
Jul-10 33.4 34.2 92.09 92.0
Aug-10 33.5 34.2 92.46 92.1
Sep-10 33.5 34.2 92.56 92.2
Oct-10 33.5 34.3 92.65 92.7
Nov-10 33.5 34.2 92.84 92.5
Dec-10 33.5 34.3 92.93 92.9
Jan-11 33.4 34.3 92.74 93.0
Feb-11 33.6 34.3 93.58 93.2
Mar-11 33.6 34.3 93.77 93.5
Apr-11 33.7 34.4 94.33 94.0
May-11 33.6 34.4 94.14 94.0
Jun-11 33.7 34.4 94.51 94.1
Jul-11 33.7 34.4 94.61 94.3
Aug-11 33.6 34.3 94.42 94.1
Sep-11 33.6 34.4 94.61 94.5
Oct-11 33.7 34.4 95.07 94.6
Nov-11 33.7 34.4 95.26 94.8
Dec-11 33.7 34.5 95.45 95.3
Jan-12 33.7 34.5 95.73 95.5
Feb-12 33.8 34.5 96.28 95.7

Note: ND No data

Note: NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 3. Establishment Survey and Household Survey Measures of Private Employment
in millions
Month Current Employment Statistics Survey Current Population Survey
Jan-01 132.47 130.10
Feb-01 132.53 130.14
Mar-01 132.50 130.13
Apr-01 132.22 129.76
May-01 132.18 130.01
Jun-01 132.05 129.76
Jul-01 131.92 130.10
Aug-01 131.77 129.47
Sep-01 131.52 129.64
Oct-01 131.19 129.00
Nov-01 130.90 128.86
Dec-01 130.72 128.89
Jan-02 130.59 128.66
Feb-02 130.45 129.61
Mar-02 130.42 129.31
Apr-02 130.34 129.48
May-02 130.33 129.39
Jun-02 130.38 129.51
Jul-02 130.28 129.18
Aug-02 130.26 130.05
Sep-02 130.21 130.25
Oct-02 130.33 129.61
Nov-02 130.34 128.97
Dec-02 130.18 129.41
Jan-03 130.27 130.10
Feb-03 130.11 130.44
Mar-03 129.90 130.29
Apr-03 129.85 130.54
May-03 129.84 130.41
Jun-03 129.84 130.44
Jul-03 129.87 129.99
Aug-03 129.82 130.11
Sep-03 129.93 129.90
Oct-03 130.13 130.30
Nov-03 130.14 130.48
Dec-03 130.26 130.49
Jan-04 130.42 130.80
Feb-04 130.47 130.92
Mar-04 130.80 131.28
Apr-04 131.05 131.23
May-04 131.36 131.56
Jun-04 131.44 131.84
Jul-04 131.49 132.13
Aug-04 131.61 132.05
Sep-04 131.77 132.30
Oct-04 132.12 132.60
Nov-04 132.18 132.76
Dec-04 132.32 132.97
Jan-05 132.45 132.58
Feb-05 132.69 132.94
Mar-05 132.83 133.15
Apr-05 133.19 133.60
May-05 133.36 133.95
Jun-05 133.61 134.39
Jul-05 133.98 134.79
Aug-05 134.17 135.11
Sep-05 134.24 135.21
Oct-05 134.32 135.21
Nov-05 134.65 135.24
Dec-05 134.81 135.60
Jan-06 135.10 135.69
Feb-06 135.41 135.87
Mar-06 135.70 135.98
Apr-06 135.88 135.66
May-06 135.89 136.66
Jun-06 135.97 136.56
Jul-06 136.18 136.85
Aug-06 136.36 137.11
Sep-06 136.52 137.43
Oct-06 136.51 137.84
Nov-06 136.71 138.11
Dec-06 136.88 138.37
Jan-07 137.12 138.61
Feb-07 137.21 138.58
Mar-07 137.40 138.80
Apr-07 137.47 138.08
May-07 137.61 138.76
Jun-07 137.69 138.73
Jul-07 137.65 138.79
Aug-07 137.63 138.73
Sep-07 137.70 139.03
Oct-07 137.78 139.03
Nov-07 137.89 139.64
Dec-07 137.98 139.06
Jan-08 138.02 139.01
Feb-08 137.94 138.85
Mar-08 137.84 138.96
Apr-08 137.64 138.87
May-08 137.45 138.71
Jun-08 137.25 138.79
Jul-08 137.04 138.52
Aug-08 136.76 138.42
Sep-08 136.33 138.04
Oct-08 135.84 138.20
Nov-08 135.04 137.23
Dec-08 134.38 136.42
Jan-09 133.56 135.62
Feb-09 132.84 135.23
Mar-09 132.04 134.25
Apr-09 131.35 133.90
May-09 130.99 133.21
Jun-09 130.50 132.92
Jul-09 130.16 133.34
Aug-09 129.93 132.10
Sep-09 129.73 131.62
Oct-09 129.53 131.61
Nov-09 129.49 131.51
Dec-09 129.32 130.61
Jan-10 129.28 131.49
Feb-10 129.24 131.47
Mar-10 129.43 131.82
Apr-10 129.67 132.02
May-10 130.19 132.34
Jun-10 130.02 132.22
Jul-10 129.96 132.14
Aug-10 129.91 132.33
Sep-10 129.89 132.25
Oct-10 130.11 131.95
Nov-10 130.23 131.93
Dec-10 130.35 132.28
Jan-11 130.46 131.95
Feb-11 130.68 132.37
Mar-11 130.92 132.58
Apr-11 131.17 132.68
May-11 131.23 132.77
Jun-11 131.31 132.58
Jul-11 131.41 132.69
Aug-11 131.49 132.85
Sep-11 131.69 133.67
Oct-11 131.81 133.61
Nov-11 131.96 133.98
Dec-11 132.19 134.15
Jan-12 132.47 134.65
Feb-12 132.70 135.52

Note: NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009. The Current Population Survey measure reported in the figure refers to data that corresponds closely to the Current Employment Statistics survey measure, as constructed by the Bureau of Labor Statistics.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 4. Measures of Labor Utilization
Percent
Month Unemployment rate Part-time for economic reasons1
Jan-01 4.2 2.52
Feb-01 4.2 2.49
Mar-01 4.3 2.48
Apr-01 4.4 2.49
May-01 4.3 2.60
Jun-01 4.5 2.87
Jul-01 4.6 2.70
Aug-01 4.9 2.57
Sep-01 5.0 3.22
Oct-01 5.3 3.38
Nov-01 5.5 3.30
Dec-01 5.7 3.36
Jan-02 5.7 3.15
Feb-02 5.7 3.29
Mar-02 5.7 3.14
Apr-02 5.9 3.22
May-02 5.8 3.15
Jun-02 5.8 3.10
Jul-02 5.8 3.18
Aug-02 5.7 3.30
Sep-02 5.7 3.32
Oct-02 5.7 3.31
Nov-02 5.9 3.32
Dec-02 6.0 3.32
Jan-03 5.8 3.54
Feb-03 5.9 3.72
Mar-03 5.9 3.58
Apr-03 6.0 3.70
May-03 6.1 3.52
Jun-03 6.3 3.54
Jul-03 6.2 3.58
Aug-03 6.1 3.40
Sep-03 6.1 3.76
Oct-03 6.0 3.70
Nov-03 5.8 3.74
Dec-03 5.7 3.65
Jan-04 5.7 3.61
Feb-04 5.6 3.49
Mar-04 5.8 3.63
Apr-04 5.6 3.49
May-04 5.6 3.49
Jun-04 5.6 3.38
Jul-04 5.5 3.38
Aug-04 5.4 3.40
Sep-04 5.4 3.41
Oct-04 5.5 3.65
Nov-04 5.4 3.44
Dec-04 5.4 3.35
Jan-05 5.3 3.31
Feb-05 5.4 3.20
Mar-05 5.2 3.30
Apr-05 5.2 3.21
May-05 5.1 3.24
Jun-05 5.0 3.32
Jul-05 5.0 3.28
Aug-05 4.9 3.35
Sep-05 5.0 3.48
Oct-05 5.0 3.18
Nov-05 5.0 3.13
Dec-05 4.9 3.05
Jan-06 4.7 3.05
Feb-06 4.8 3.08
Mar-06 4.7 2.93
Apr-06 4.7 2.87
May-06 4.6 3.03
Jun-06 4.6 3.18
Jul-06 4.7 3.16
Aug-06 4.7 3.08
Sep-06 4.5 3.01
Oct-06 4.4 3.19
Nov-06 4.5 3.06
Dec-06 4.4 3.06
Jan-07 4.6 3.12
Feb-07 4.5 3.08
Mar-07 4.4 3.10
Apr-07 4.5 3.14
May-07 4.4 3.25
Jun-07 4.6 3.15
Jul-07 4.7 3.20
Aug-07 4.6 3.32
Sep-07 4.7 3.28
Oct-07 4.7 3.14
Nov-07 4.7 3.26
Dec-07 5.0 3.35
Jan-08 5.0 3.52
Feb-08 4.9 3.55
Mar-08 5.1 3.55
Apr-08 5.0 3.77
May-08 5.4 3.84
Jun-08 5.6 4.04
Jul-08 5.8 4.33
Aug-08 6.1 4.27
Sep-08 6.1 4.56
Oct-08 6.5 4.94
Nov-08 6.8 5.43
Dec-08 7.3 5.95
Jan-09 7.8 6.03
Feb-09 8.3 6.61
Mar-09 8.7 6.84
Apr-09 8.9 6.73
May-09 9.4 6.94
Jun-09 9.5 6.94
Jul-09 9.5 6.88
Aug-09 9.6 6.94
Sep-09 9.8 6.94
Oct-09 10.0 6.98
Nov-09 9.9 7.05
Dec-09 9.9 6.99
Jan-10 9.7 6.58
Feb-10 9.8 6.87
Mar-10 9.8 7.00
Apr-10 9.9 7.02
May-10 9.6 6.76
Jun-10 9.4 6.65
Jul-10 9.5 6.64
Aug-10 9.6 6.78
Sep-10 9.5 7.22
Oct-10 9.5 6.89
Nov-10 9.8 6.83
Dec-10 9.4 6.80
Jan-11 9.1 6.48
Feb-11 9.0 6.42
Mar-11 8.9 6.46
Apr-11 9.0 6.53
May-11 9.0 6.51
Jun-11 9.1 6.51
Jul-11 9.1 6.42
Aug-11 9.1 6.68
Sep-11 9.0 7.04
Oct-11 8.9 6.67
Nov-11 8.7 6.42
Dec-11 8.5 6.13
Jan-12 8.3 6.21
Feb-12 8.3 6.12

Note: NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009. The Current Population Survey measure reported in the figure refers to data that corresponds closely to the Current Employment Statistics survey measure, as constructed by the Bureau of Labor Statistics.

1. Percent of Current Population Survey employment.  Return to table

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 5. Expected Labor Market Conditions
Index, scaled by standard deviation
Month Michigan Survey Conference Board
Jan-01 99.04 99.60
Feb-01 98.80 98.94
Mar-01 98.80 99.78
Apr-01 98.62 99.51
May-01 99.10 100.04
Jun-01 99.28 100.41
Jul-01 98.98 100.53
Aug-01 98.86 100.47
Sep-01 98.31 99.62
Oct-01 98.37 99.01
Nov-01 98.80 99.36
Dec-01 99.28 100.38
Jan-02 100.00 100.79
Feb-02 99.94 100.56
Mar-02 100.67 101.49
Apr-02 100.85 101.51
May-02 100.73 101.54
Jun-02 100.49 101.37
Jul-02 99.46 100.72
Aug-02 99.64 100.65
Sep-02 100.18 100.75
Oct-02 99.52 99.93
Nov-02 100.00 100.31
Dec-02 99.76 100.16
Jan-03 99.52 99.91
Feb-03 99.58 98.90
Mar-03 99.58 98.94
Apr-03 100.18 100.19
May-03 100.97 100.70
Jun-03 100.49 100.91
Jul-03 100.43 100.36
Aug-03 100.73 100.62
Sep-03 100.55 100.19
Oct-03 100.37 100.60
Nov-03 101.09 100.75
Dec-03 101.51 101.37
Jan-04 101.69 101.22
Feb-04 101.09 100.42
Mar-04 100.91 100.51
Apr-04 100.97 100.76
May-04 100.97 100.85
Jun-04 101.63 101.04
Jul-04 101.81 101.36
Aug-04 101.03 100.82
Sep-04 101.09 100.87
Oct-04 101.09 100.51
Nov-04 101.03 100.50
Dec-04 101.21 100.81
Jan-05 100.73 100.86
Feb-05 100.73 100.52
Mar-05 100.67 100.61
Apr-05 100.31 100.20
May-05 100.24 100.60
Jun-05 100.43 100.58
Jul-05 100.37 100.57
Aug-05 100.00 100.59
Sep-05 99.16 99.49
Oct-05 99.34 99.39
Nov-05 100.06 100.24
Dec-05 99.82 100.32
Jan-06 99.76 100.51
Feb-06 99.70 99.97
Mar-06 99.64 100.39
Apr-06 99.64 100.59
May-06 99.76 100.33
Jun-06 99.76 100.50
Jul-06 99.64 100.44
Aug-06 99.58 100.26
Sep-06 99.88 100.49
Oct-06 100.06 100.37
Nov-06 100.12 100.38
Dec-06 100.12 100.51
Jan-07 100.49 100.49
Feb-07 99.88 100.59
Mar-07 100.00 100.32
Apr-07 99.64 100.42
May-07 100.18 100.47
Jun-07 99.88 100.36
Jul-07 100.00 100.57
Aug-07 99.52 100.43
Sep-07 99.76 100.10
Oct-07 99.58 99.92
Nov-07 99.70 99.33
Dec-07 99.04 99.69
Jan-08 98.92 99.42
Feb-08 98.92 98.56
Mar-08 98.50 98.32
Apr-08 98.13 98.01
May-08 98.19 98.09
Jun-08 97.83 97.60
Jul-08 98.13 97.43
Aug-08 98.37 98.54
Sep-08 98.92 99.02
Oct-08 98.01 96.88
Nov-08 97.65 97.96
Dec-08 97.65 97.26
Jan-09 98.13 97.59
Feb-09 97.83 96.21
Mar-09 98.07 96.87
Apr-09 98.74 98.65
May-09 99.46 99.99
Jun-09 99.40 99.56
Jul-09 99.22 99.51
Aug-09 99.94 100.12
Sep-09 100.79 100.14
Oct-09 100.18 99.65
Nov-09 99.94 99.88
Dec-09 100.67 100.22
Jan-10 100.73 100.34
Feb-10 101.03 99.41
Mar-10 100.67 99.88
Apr-10 101.09 100.44
May-10 101.09 100.96
Jun-10 101.15 100.26
Jul-10 100.73 99.94
Aug-10 100.67 100.14
Sep-10 100.55 99.79
Oct-10 100.61 99.82
Nov-10 100.91 100.50
Dec-10 101.09 100.70
Jan-11 101.33 100.65
Feb-11 101.75 101.38
Mar-11 101.09 100.59
Apr-11 100.91 100.59
May-11 101.57 100.29
Jun-11 101.09 99.92
Jul-11 100.37 100.10
Aug-11 99.52 98.53
Sep-11 99.88 98.84
Oct-11 100.06 98.82
Nov-11 100.79 99.42
Dec-11 100.73 100.00
Jan-12 101.27 100.39
Feb-12 101.63 100.89

Note: The proportion of households expecting employment (Conference Board) or unemployment (Michigan) to improve, minus the proportion expecting it to worsen, plus 100. NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

Source: Conference Board; Thomson Reuters/University of Michigan Surveys of Consumers.

Figure 6. Hiring Plans
Period NFIB1 Manpower, by percent
Jan-01 14.77 ND
Feb-01 14.95 ND
Mar-01 14.31 ND
Apr-01 11.67 ND
May-01 12.09 ND
Jun-01 10.18 ND
Jul-01 12.59 ND
Aug-01 15.02 ND
Sep-01 10.04 ND
Oct-01 7.24 ND
Nov-01 11.07 ND
Dec-01 5.29 ND
Jan-02 10.73 ND
Feb-02 8.74 ND
Mar-02 12.39 ND
Apr-02 12.17 ND
May-02 13.52 ND
Jun-02 13.25 ND
Jul-02 9.40 ND
Aug-02 10.78 ND
Sep-02 7.45 ND
Oct-02 11.09 ND
Nov-02 9.20 ND
Dec-02 10.44 ND
Jan-03 6.61 ND
Feb-03 7.39 ND
Mar-03 3.72 ND
Apr-03 8.57 ND
May-03 9.03 ND
Jun-03 10.29 ND
Jul-03 11.55 ND
Aug-03 10.76 ND
Sep-03 10.56 ND
Oct-03 12.64 ND
Nov-03 12.35 ND
Dec-03 18.50 ND
Jan-04 15.63 ND
Feb-04 13.89 ND
Mar-04 16.19 ND
Apr-04 14.85 ND
May-04 13.73 ND
Jun-04 14.47 ND
Jul-04 14.71 ND
Aug-04 15.98 ND
Sep-04 14.08 ND
Oct-04 14.33 ND
Nov-04 19.43 ND
Dec-04 15.67 ND
Jan-05 13.66 ND
Feb-05 16.36 ND
Mar-05 13.69 ND
Apr-05 11.95 ND
May-05 15.90 ND
Jun-05 13.60 ND
Jul-05 13.74 ND
Aug-05 13.93 ND
Sep-05 16.36 ND
Oct-05 16.18 ND
Nov-05 13.55 ND
Dec-05 14.14 ND
Jan-06 15.95 ND
Feb-06 15.68 ND
Mar-06 13.05 ND
Apr-06 17.08 ND
May-06 15.05 ND
Jun-06 9.54 ND
Jul-06 14.63 ND
Aug-06 13.86 ND
Sep-06 15.77 ND
Oct-06 15.18 ND
Nov-06 19.67 ND
Dec-06 9.74 ND
Jan-07 16.26 ND
Feb-07 12.28 ND
Mar-07 16.16 ND
Apr-07 13.98 ND
May-07 14.15 ND
Jun-07 12.19 ND
Jul-07 12.50 ND
Aug-07 11.87 ND
Sep-07 12.71 ND
Oct-07 10.30 ND
Nov-07 11.63 ND
Dec-07 11.01 ND
Jan-08 8.75 ND
Feb-08 10.14 ND
Mar-08 6.86 ND
Apr-08 5.89 ND
May-08 3.21 ND
Jun-08 4.73 ND
Jul-08 4.40 ND
Aug-08 6.04 ND
Sep-08 6.00 ND
Oct-08 -.40 ND
Nov-08 -3.61 ND
Dec-08 -6.02 ND
Jan-09 -5.91 ND
Feb-09 -3.81 ND
Mar-09 -6.62 ND
Apr-09 -4.19 ND
May-09 -3.59 ND
Jun-09 -1.66 ND
Jul-09 -3.70 ND
Aug-09 -2.82 ND
Sep-09 -4.56 ND
Oct-09 -1.02 ND
Nov-09 -2.98 ND
Dec-09 -2.20 ND
Jan-10 -.61 ND
Feb-10 -1.79 ND
Mar-10 .97 ND
Apr-10 -.17 ND
May-10 2.49 ND
Jun-10 .02 ND
Jul-10 1.36 ND
Aug-10 -1.63 ND
Sep-10 -3.19 ND
Oct-10 1.18 ND
Nov-10 3.71 ND
Dec-10 5.59 ND
Jan-11 3.42 ND
Feb-11 4.36 ND
Mar-11 4.89 ND
Apr-11 2.78 ND
May-11 .46 ND
Jun-11 1.84 ND
Jul-11 1.39 ND
Aug-11 2.54 ND
Sep-11 4.05 ND
Oct-11 3.21 ND
Nov-11 6.58 ND
Dec-11 5.44 ND
Jan-12 5.34 ND
Feb-12 3.56 ND
01:Q1 ND 24
01:Q2 ND 18
01:Q3 ND 14
01:Q4 ND 12
02:Q1 ND 7
02:Q2 ND 9
02:Q3 ND 15
02:Q4 ND 14
03:Q1 ND 15
03:Q2 ND 11
03:Q3 ND 7
03:Q4 ND 10
04:Q1 ND 14
04:Q2 ND 20
04:Q3 ND 20
04:Q4 ND 20
05:Q1 ND 21
05:Q2 ND 21
05:Q3 ND 21
05:Q4 ND 20
06:Q1 ND 20
06:Q2 ND 21
06:Q3 ND 21
06:Q4 ND 20
07:Q1 ND 19
07:Q2 ND 18
07:Q3 ND 18
07:Q4 ND 18
08:Q1 ND 17
08:Q2 ND 15
08:Q3 ND 12
08:Q4 ND 9
09:Q1 ND 10
09:Q2 ND -2
09:Q3 ND -2
09:Q4 ND -2
10:Q1 ND 5
10:Q2 ND 6
10:Q3 ND 6
10:Q4 ND 5
11:Q1 ND 8
11:Q2 ND 8
11:Q3 ND 8
11:Q4 ND 7

Note: ND No data

Note: NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

1. Percent planning an increase in employment minus percent planning a reduction. Series seasonally adjusted by FRB staff.  Return to table

Source: For NFIB, National Federation of Independent Business; for Manpower,Manpower Employment Outlook Survey.

Figure 7. Hires, Separations and Layoffs
in millions
Month Hires Separations Layoffs and discharges
Jan-01 5.43 5.51 2.13
Feb-01 5.03 5.04 1.66
Mar-01 5.26 5.48 2.17
Apr-01 5.03 5.24 1.87
May-01 5.14 5.14 1.94
Jun-01 4.77 5.06 1.92
Jul-01 4.84 5.08 1.92
Aug-01 4.72 4.83 1.76
Sep-01 4.66 4.95 1.98
Oct-01 4.70 5.13 2.10
Nov-01 4.61 4.85 2.06
Dec-01 4.44 4.55 1.78
Jan-02 4.55 4.76 1.76
Feb-02 4.58 4.71 1.86
Mar-02 4.32 4.48 1.70
Apr-02 4.65 4.70 1.83
May-02 4.65 4.67 1.85
Jun-02 4.52 4.54 1.78
Jul-02 4.72 4.90 2.03
Aug-02 4.51 4.53 1.75
Sep-02 4.58 4.61 1.80
Oct-02 4.48 4.44 1.75
Nov-02 4.53 4.47 1.80
Dec-02 4.66 4.77 1.92
Jan-03 4.67 4.59 1.87
Feb-03 4.39 4.52 1.84
Mar-03 4.12 4.40 1.78
Apr-03 4.30 4.33 1.81
May-03 4.33 4.34 1.85
Jun-03 4.42 4.48 1.96
Jul-03 4.29 4.36 1.89
Aug-03 4.40 4.37 1.91
Sep-03 4.49 4.34 1.69
Oct-03 4.57 4.46 1.82
Nov-03 4.39 4.31 1.74
Dec-03 4.67 4.50 1.91
Jan-04 4.53 4.35 1.79
Feb-04 4.40 4.34 1.78
Mar-04 4.82 4.62 1.82
Apr-04 4.83 4.59 1.84
May-04 4.66 4.37 1.76
Jun-04 4.70 4.58 1.73
Jul-04 4.59 4.57 1.75
Aug-04 4.80 4.68 1.90
Sep-04 4.73 4.57 1.78
Oct-04 4.82 4.49 1.70
Nov-04 4.86 4.84 1.82
Dec-04 4.87 4.70 1.83
Jan-05 4.86 4.77 1.81
Feb-05 4.91 4.65 1.79
Mar-05 4.90 4.84 1.90
Apr-05 4.99 4.68 1.74
May-05 5.00 4.86 1.87
Jun-05 5.01 4.71 1.83
Jul-05 4.96 4.68 1.77
Aug-05 5.13 4.92 1.77
Sep-05 5.15 4.99 1.80
Oct-05 4.72 4.65 1.57
Nov-05 4.89 4.61 1.55
Dec-05 4.81 4.75 1.63
Jan-06 4.89 4.62 1.56
Feb-06 5.03 4.77 1.60
Mar-06 4.99 4.75 1.56
Apr-06 4.74 4.61 1.67
May-06 5.18 5.16 1.89
Jun-06 5.00 4.85 1.63
Jul-06 5.05 4.84 1.67
Aug-06 4.85 4.64 1.55
Sep-06 4.84 4.70 1.62
Oct-06 4.87 4.82 1.68
Nov-06 5.19 5.04 1.76
Dec-06 4.94 4.92 1.67
Jan-07 4.92 4.77 1.61
Feb-07 4.81 4.79 1.66
Mar-07 4.98 4.81 1.68
Apr-07 4.80 4.81 1.78
May-07 4.94 4.79 1.70
Jun-07 4.87 4.72 1.73
Jul-07 4.78 4.70 1.65
Aug-07 4.76 4.76 1.75
Sep-07 4.79 4.71 1.99
Oct-07 4.88 4.78 1.80
Nov-07 4.81 4.79 1.85
Dec-07 4.61 4.70 1.67
Jan-08 4.61 4.67 1.72
Feb-08 4.57 4.75 1.77
Mar-08 4.47 4.56 1.74
Apr-08 4.60 4.83 1.77
May-08 4.38 4.57 1.80
Jun-08 4.48 4.68 1.92
Jul-08 4.21 4.42 1.84
Aug-08 4.30 4.61 2.03
Sep-08 4.11 4.50 1.91
Oct-08 4.18 4.61 2.06
Nov-08 3.69 4.43 2.10
Dec-08 3.90 4.51 2.30
Jan-09 3.84 4.65 2.48
Feb-09 3.74 4.45 2.36
Mar-09 3.56 4.37 2.34
Apr-09 3.53 4.41 2.47
May-09 3.55 3.94 2.05
Jun-09 3.42 3.86 1.96
Jul-09 3.57 3.92 2.11
Aug-09 3.52 3.81 1.94
Sep-09 3.63 3.79 2.02
Oct-09 3.44 3.65 1.86
Nov-09 3.68 3.63 1.74
Dec-09 3.59 3.64 1.83
Jan-10 3.57 3.61 1.74
Feb-10 3.55 3.61 1.68
Mar-10 3.89 3.71 1.73
Apr-10 3.77 3.58 1.58
May-10 3.68 3.63 1.67
Jun-10 3.80 3.70 1.66
Jul-10 3.78 3.73 1.77
Aug-10 3.68 3.55 1.56
Sep-10 3.69 3.56 1.53
Oct-10 3.74 3.51 1.52
Nov-10 3.80 3.60 1.62
Dec-10 3.82 3.70 1.61
Jan-11 3.67 3.56 1.58
Feb-11 3.85 3.61 1.52
Mar-11 4.04 3.73 1.59
Apr-11 3.74 3.50 1.48
May-11 3.92 3.87 1.73
Jun-11 3.95 3.82 1.73
Jul-11 3.87 3.72 1.57
Aug-11 3.93 3.84 1.65
Sep-11 4.00 3.81 1.65
Oct-11 3.98 3.78 1.63
Nov-11 3.99 3.75 1.65
Dec-11 3.89 3.70 1.57
Jan-12 3.84 3.62 1.52

Note: Data refer to private sector employment. NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 8. Q4/Q4 percent change in real GDP and Unemployment since 1990
percentage points
Year GDP Unemployment
1990 .56 .75
1991 1.00 .98
1992 4.31 .31
1993 2.69 -.79
1994 4.16 -1.00
1995 2.01 -.05
1996 4.44 -.26
1997 4.34 -.63
1998 4.98 -.25
1999 4.82 -.35
2000 2.91 -.16
2001 .40 1.62
2002 1.94 .31
2003 3.87 -.03
2004 2.90 -.43
2005 2.81 -.44
2006 2.38 -.50
2007 2.21 .35
2008 -3.32 2.08
2009 -.54 3.06
2010 3.14 -.37
2011 1.64 -.87

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 9. Labor Force Participation Rate
Month Percent
Jan-01 67.2
Feb-01 67.1
Mar-01 67.2
Apr-01 66.9
May-01 66.7
Jun-01 66.7
Jul-01 66.8
Aug-01 66.5
Sep-01 66.8
Oct-01 66.7
Nov-01 66.7
Dec-01 66.7
Jan-02 66.5
Feb-02 66.8
Mar-02 66.6
Apr-02 66.7
May-02 66.7
Jun-02 66.6
Jul-02 66.5
Aug-02 66.6
Sep-02 66.7
Oct-02 66.6
Nov-02 66.4
Dec-02 66.3
Jan-03 66.4
Feb-03 66.4
Mar-03 66.3
Apr-03 66.4
May-03 66.4
Jun-03 66.5
Jul-03 66.2
Aug-03 66.1
Sep-03 66.1
Oct-03 66.1
Nov-03 66.1
Dec-03 65.9
Jan-04 66.1
Feb-04 66.0
Mar-04 66.0
Apr-04 65.9
May-04 66.0
Jun-04 66.1
Jul-04 66.1
Aug-04 66.0
Sep-04 65.8
Oct-04 65.9
Nov-04 66.0
Dec-04 65.9
Jan-05 65.8
Feb-05 65.9
Mar-05 65.9
Apr-05 66.1
May-05 66.1
Jun-05 66.1
Jul-05 66.1
Aug-05 66.2
Sep-05 66.1
Oct-05 66.1
Nov-05 66.0
Dec-05 66.0
Jan-06 66.0
Feb-06 66.1
Mar-06 66.2
Apr-06 66.1
May-06 66.1
Jun-06 66.2
Jul-06 66.1
Aug-06 66.2
Sep-06 66.1
Oct-06 66.2
Nov-06 66.3
Dec-06 66.4
Jan-07 66.4
Feb-07 66.3
Mar-07 66.2
Apr-07 65.9
May-07 66.0
Jun-07 66.0
Jul-07 66.0
Aug-07 65.8
Sep-07 66.0
Oct-07 65.8
Nov-07 66.0
Dec-07 66.0
Jan-08 66.2
Feb-08 66.0
Mar-08 66.1
Apr-08 65.9
May-08 66.1
Jun-08 66.1
Jul-08 66.1
Aug-08 66.1
Sep-08 65.9
Oct-08 66.0
Nov-08 65.8
Dec-08 65.8
Jan-09 65.7
Feb-09 65.8
Mar-09 65.6
Apr-09 65.6
May-09 65.7
Jun-09 65.7
Jul-09 65.5
Aug-09 65.4
Sep-09 65.1
Oct-09 65.0
Nov-09 65.0
Dec-09 64.6
Jan-10 64.8
Feb-10 64.9
Mar-10 64.9
Apr-10 65.1
May-10 64.9
Jun-10 64.6
Jul-10 64.6
Aug-10 64.7
Sep-10 64.6
Oct-10 64.4
Nov-10 64.5
Dec-10 64.3
Jan-11 64.2
Feb-11 64.2
Mar-11 64.2
Apr-11 64.2
May-11 64.2
Jun-11 64.1
Jul-11 64.0
Aug-11 64.1
Sep-11 64.1
Oct-11 64.1
Nov-11 64.0
Dec-11 64.0
Jan-12 63.7
Feb-12 63.9

Note: NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 10. Alternative Measures of Labor Market Conditions
percent
Month Unemployment Rate U-5
Jan-01 4.2 5.0
Feb-01 4.2 5.1
Mar-01 4.3 5.0
Apr-01 4.4 5.1
May-01 4.3 5.1
Jun-01 4.5 5.3
Jul-01 4.6 5.4
Aug-01 4.9 5.8
Sep-01 5.0 5.8
Oct-01 5.3 6.2
Nov-01 5.5 6.4
Dec-01 5.7 6.6
Jan-02 5.7 6.7
Feb-02 5.7 6.6
Mar-02 5.7 6.6
Apr-02 5.9 6.8
May-02 5.8 6.7
Jun-02 5.8 6.7
Jul-02 5.8 6.8
Aug-02 5.7 6.7
Sep-02 5.7 6.6
Oct-02 5.7 6.6
Nov-02 5.9 6.8
Dec-02 6.0 6.9
Jan-03 5.8 6.9
Feb-03 5.9 6.9
Mar-03 5.9 6.9
Apr-03 6.0 6.9
May-03 6.1 7.0
Jun-03 6.3 7.2
Jul-03 6.2 7.1
Aug-03 6.1 7.1
Sep-03 6.1 7.1
Oct-03 6.0 7.0
Nov-03 5.8 6.8
Dec-03 5.7 6.6
Jan-04 5.7 6.8
Feb-04 5.6 6.6
Mar-04 5.8 6.8
Apr-04 5.6 6.5
May-04 5.6 6.6
Jun-04 5.6 6.6
Jul-04 5.5 6.5
Aug-04 5.4 6.4
Sep-04 5.4 6.4
Oct-04 5.5 6.5
Nov-04 5.4 6.3
Dec-04 5.4 6.3
Jan-05 5.3 6.4
Feb-05 5.4 6.4
Mar-05 5.2 6.2
Apr-05 5.2 6.1
May-05 5.1 6.0
Jun-05 5.0 6.0
Jul-05 5.0 5.9
Aug-05 4.9 5.9
Sep-05 5.0 5.9
Oct-05 5.0 5.9
Nov-05 5.0 5.9
Dec-05 4.9 5.8
Jan-06 4.7 5.7
Feb-06 4.8 5.7
Mar-06 4.7 5.6
Apr-06 4.7 5.5
May-06 4.6 5.5
Jun-06 4.6 5.6
Jul-06 4.7 5.7
Aug-06 4.7 5.7
Sep-06 4.5 5.3
Oct-06 4.4 5.3
Nov-06 4.5 5.4
Dec-06 4.4 5.2
Jan-07 4.6 5.6
Feb-07 4.5 5.4
Mar-07 4.4 5.3
Apr-07 4.5 5.4
May-07 4.4 5.3
Jun-07 4.6 5.5
Jul-07 4.7 5.5
Aug-07 4.6 5.5
Sep-07 4.7 5.5
Oct-07 4.7 5.6
Nov-07 4.7 5.5
Dec-07 5.0 5.8
Jan-08 5.0 6.0
Feb-08 4.9 5.8
Mar-08 5.1 5.9
Apr-08 5.0 5.8
May-08 5.4 6.3
Jun-08 5.6 6.5
Jul-08 5.8 6.7
Aug-08 6.1 7.1
Sep-08 6.1 7.1
Oct-08 6.5 7.5
Nov-08 6.8 8.0
Dec-08 7.3 8.4
Jan-09 7.8 9.1
Feb-09 8.3 9.5
Mar-09 8.7 9.9
Apr-09 8.9 10.1
May-09 9.4 10.6
Jun-09 9.5 10.8
Jul-09 9.5 10.8
Aug-09 9.6 10.9
Sep-09 9.8 11.0
Oct-09 10.0 11.4
Nov-09 9.9 11.2
Dec-09 9.9 11.3
Jan-10 9.7 11.2
Feb-10 9.8 11.2
Mar-10 9.8 11.1
Apr-10 9.9 11.2
May-10 9.6 10.9
Jun-10 9.4 10.9
Jul-10 9.5 11.0
Aug-10 9.6 10.9
Sep-10 9.5 10.9
Oct-10 9.5 11.0
Nov-10 9.8 11.3
Dec-10 9.4 10.9
Jan-11 9.1 10.7
Feb-11 9.0 10.6
Mar-11 8.9 10.3
Apr-11 9.0 10.4
May-11 9.0 10.3
Jun-11 9.1 10.7
Jul-11 9.1 10.7
Aug-11 9.1 10.6
Sep-11 9.0 10.5
Oct-11 8.9 10.4
Nov-11 8.7 10.2
Dec-11 8.5 10.0
Jan-12 8.3 9.9
Feb-12 8.3 9.8

Note: U-5 measures total unemployed plus all marginally attached to the labor force, as a percent of the labor force plus persons marginally attached to the labor force. NBER recession periods represented in this chart are March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 11. Duration of Unemployment
weeks
Month Mean Median
Jan-78 12.9 6.5
Feb-78 12.5 6.7
Mar-78 12.4 6.2
Apr-78 12.3 6.1
May-78 12.1 5.7
Jun-78 12.1 6.0
Jul-78 12.0 5.8
Aug-78 11.4 5.8
Sep-78 11.4 5.6
Oct-78 11.7 5.9
Nov-78 11.1 5.5
Dec-78 10.6 5.6
Jan-79 11.1 5.9
Feb-79 11.2 5.9
Mar-79 11.7 5.9
Apr-79 11.0 5.4
May-79 11.1 5.6
Jun-79 10.4 5.6
Jul-79 10.3 5.9
Aug-79 10.6 4.8
Sep-79 10.5 5.5
Oct-79 10.5 5.5
Nov-79 10.6 5.3
Dec-79 10.8 5.7
Jan-80 10.4 5.3
Feb-80 10.6 5.8
Mar-80 11.0 6.0
Apr-80 11.4 5.8
May-80 10.9 5.7
Jun-80 11.3 6.4
Jul-80 11.8 7.0
Aug-80 12.4 7.5
Sep-80 12.9 7.7
Oct-80 13.1 7.5
Nov-80 13.6 7.7
Dec-80 13.7 7.5
Jan-81 14.3 7.4
Feb-81 14.1 7.1
Mar-81 14.0 7.1
Apr-81 13.9 7.4
May-81 13.6 6.9
Jun-81 13.7 6.6
Jul-81 13.8 7.1
Aug-81 14.4 7.2
Sep-81 13.6 6.8
Oct-81 13.5 6.8
Nov-81 13.1 6.9
Dec-81 13.1 6.9
Jan-82 13.4 7.1
Feb-82 14.1 7.5
Mar-82 14.1 7.7
Apr-82 14.5 8.1
May-82 14.9 8.5
Jun-82 15.7 9.5
Jul-82 15.4 8.5
Aug-82 16.2 8.7
Sep-82 16.6 9.5
Oct-82 17.2 9.7
Nov-82 17.1 10.0
Dec-82 18.1 10.2
Jan-83 19.4 11.1
Feb-83 19.2 9.8
Mar-83 19.4 10.4
Apr-83 19.5 10.9
May-83 20.5 12.3
Jun-83 20.8 11.3
Jul-83 21.2 10.1
Aug-83 20.0 9.3
Sep-83 20.2 9.3
Oct-83 20.2 9.4
Nov-83 19.7 9.3
Dec-83 19.2 8.7
Jan-84 20.4 9.1
Feb-84 19.0 8.3
Mar-84 19.1 8.3
Apr-84 18.9 8.2
May-84 18.8 9.1
Jun-84 18.1 7.5
Jul-84 18.0 7.5
Aug-84 17.3 7.3
Sep-84 17.0 7.6
Oct-84 16.7 7.2
Nov-84 17.0 7.2
Dec-84 16.8 7.3
Jan-85 15.9 6.8
Feb-85 15.9 7.1
Mar-85 16.1 7.1
Apr-85 16.4 6.9
May-85 15.3 6.9
Jun-85 15.5 6.6
Jul-85 15.5 6.9
Aug-85 15.3 7.1
Sep-85 15.3 6.9
Oct-85 15.3 7.1
Nov-85 15.7 7.0
Dec-85 15.1 6.8
Jan-86 14.8 6.7
Feb-86 15.2 6.9
Mar-86 14.6 6.8
Apr-86 14.7 6.7
May-86 14.7 6.8
Jun-86 15.2 7.0
Jul-86 15.2 6.9
Aug-86 15.5 7.1
Sep-86 15.4 7.4
Oct-86 15.2 7.0
Nov-86 15.0 7.1
Dec-86 15.0 7.1
Jan-87 14.9 6.9
Feb-87 14.7 6.6
Mar-87 14.9 6.6
Apr-87 14.8 7.1
May-87 14.9 6.6
Jun-87 14.9 6.5
Jul-87 14.2 6.5
Aug-87 14.4 6.4
Sep-87 14.2 6.0
Oct-87 14.0 6.3
Nov-87 14.0 6.2
Dec-87 14.2 6.0
Jan-88 14.2 6.2
Feb-88 14.4 6.3
Mar-88 13.7 6.4
Apr-88 13.3 5.9
May-88 13.8 5.9
Jun-88 13.1 5.8
Jul-88 13.4 6.1
Aug-88 13.6 5.9
Sep-88 13.6 5.7
Oct-88 13.4 5.6
Nov-88 12.6 5.7
Dec-88 12.9 5.9
Jan-89 12.6 5.6
Feb-89 12.4 5.4
Mar-89 12.3 5.4
Apr-89 12.5 5.4
May-89 12.0 5.3
Jun-89 11.1 5.4
Jul-89 11.8 5.6
Aug-89 11.4 5.0
Sep-89 11.5 4.9
Oct-89 11.9 4.9
Nov-89 11.7 4.8
Dec-89 11.6 4.9
Jan-90 11.8 5.1
Feb-90 11.6 5.3
Mar-90 11.7 5.1
Apr-90 11.8 4.8
May-90 11.7 5.2
Jun-90 11.6 5.2
Jul-90 11.9 5.4
Aug-90 12.2 5.4
Sep-90 12.4 5.6
Oct-90 12.2 5.8
Nov-90 12.4 5.7
Dec-90 12.5 5.9
Jan-91 12.2 6.0
Feb-91 12.7 6.2
Mar-91 12.9 6.7
Apr-91 13.5 6.6
May-91 12.9 6.4
Jun-91 13.7 6.9
Jul-91 13.8 7.0
Aug-91 13.9 7.3
Sep-91 14.0 6.8
Oct-91 14.4 7.2
Nov-91 14.8 7.5
Dec-91 15.4 7.8
Jan-92 16.1 8.1
Feb-92 16.7 8.2
Mar-92 17.1 8.3
Apr-92 17.4 8.5
May-92 17.8 8.8
Jun-92 18.2 8.7
Jul-92 18.1 8.6
Aug-92 18.0 8.8
Sep-92 18.1 8.6
Oct-92 18.9 9.0
Nov-92 17.9 9.0
Dec-92 19.0 9.3
Jan-93 18.3 8.6
Feb-93 18.2 8.5
Mar-93 17.6 8.5
Apr-93 17.6 8.4
May-93 17.5 8.1
Jun-93 17.8 8.3
Jul-93 17.7 8.2
Aug-93 18.0 8.2
Sep-93 18.1 8.3
Oct-93 18.1 8.0
Nov-93 18.6 8.3
Dec-93 18.3 8.3
Jan-94 18.6 8.6
Feb-94 19.0 9.2
Mar-94 19.0 9.3
Apr-94 19.0 9.1
May-94 19.5 9.2
Jun-94 18.8 9.3
Jul-94 19.0 9.0
Aug-94 18.8 8.9
Sep-94 18.7 9.2
Oct-94 19.3 10.0
Nov-94 18.0 9.0
Dec-94 17.8 8.7
Jan-95 17.1 8.0
Feb-95 17.0 8.1
Mar-95 17.3 8.3
Apr-95 17.6 8.3
May-95 17.0 9.1
Jun-95 15.9 7.9
Jul-95 16.5 8.5
Aug-95 16.2 8.3
Sep-95 16.2 7.9
Oct-95 16.0 8.2
Nov-95 16.4 8.0
Dec-95 16.3 8.3
Jan-96 16.1 8.3
Feb-96 16.4 7.8
Mar-96 17.3 8.3
Apr-96 17.6 8.6
May-96 17.0 8.6
Jun-96 17.6 8.3
Jul-96 16.7 8.3
Aug-96 17.3 8.4
Sep-96 16.8 8.5
Oct-96 16.3 8.3
Nov-96 15.9 7.7
Dec-96 15.6 7.8
Jan-97 16.0 7.8
Feb-97 15.8 8.1
Mar-97 15.5 7.9
Apr-97 15.6 8.3
May-97 15.4 8.0
Jun-97 15.5 8.0
Jul-97 16.4 8.3
Aug-97 16.0 7.8
Sep-97 15.9 8.2
Oct-97 16.1 7.7
Nov-97 15.4 7.6
Dec-97 15.9 7.5
Jan-98 15.6 7.4
Feb-98 15.4 7.0
Mar-98 14.5 6.8
Apr-98 14.7 6.7
May-98 14.7 6.0
Jun-98 14.1 6.9
Jul-98 14.1 6.7
Aug-98 13.7 6.8
Sep-98 14.4 6.7
Oct-98 14.1 5.8
Nov-98 14.5 6.6
Dec-98 14.0 6.8
Jan-99 13.4 6.9
Feb-99 13.8 6.8
Mar-99 13.4 6.8
Apr-99 13.3 6.2
May-99 13.4 6.5
Jun-99 14.3 6.3
Jul-99 13.6 5.8
Aug-99 13.1 6.5
Sep-99 13.1 6.0
Oct-99 13.3 6.1
Nov-99 12.9 6.2
Dec-99 12.9 5.8
Jan-00 13.1 5.8
Feb-00 12.6 6.1
Mar-00 12.7 6.0
Apr-00 12.4 6.1
May-00 12.6 5.8
Jun-00 12.3 5.7
Jul-00 13.4 6.0
Aug-00 12.9 6.3
Sep-00 12.2 5.2
Oct-00 12.7 6.1
Nov-00 12.4 6.1
Dec-00 12.5 6.0
Jan-01 12.7 5.8
Feb-01 12.8 6.1
Mar-01 12.8 6.6
Apr-01 12.4 5.9
May-01 12.1 6.3
Jun-01 12.7 6.0
Jul-01 12.9 6.8
Aug-01 13.3 6.9
Sep-01 13.2 7.2
Oct-01 13.3 7.3
Nov-01 14.3 7.7
Dec-01 14.5 8.2
Jan-02 14.7 8.4
Feb-02 15.0 8.3
Mar-02 15.4 8.4
Apr-02 16.3 8.9
May-02 16.8 9.5
Jun-02 16.9 11.0
Jul-02 16.9 8.9
Aug-02 16.5 9.0
Sep-02 17.6 9.5
Oct-02 17.8 9.6
Nov-02 17.6 9.3
Dec-02 18.5 9.6
Jan-03 18.5 9.6
Feb-03 18.5 9.5
Mar-03 18.1 9.7
Apr-03 19.4 10.2
May-03 19.0 9.9
Jun-03 19.9 11.5
Jul-03 19.7 10.3
Aug-03 19.2 10.1
Sep-03 19.5 10.2
Oct-03 19.3 10.4
Nov-03 19.9 10.3
Dec-03 19.8 10.4
Jan-04 19.9 10.6
Feb-04 20.1 10.2
Mar-04 19.8 10.2
Apr-04 19.6 9.5
May-04 19.8 9.9
Jun-04 20.5 11.0
Jul-04 18.8 8.9
Aug-04 18.8 9.2
Sep-04 19.4 9.6
Oct-04 19.5 9.5
Nov-04 19.7 9.7
Dec-04 19.4 9.5
Jan-05 19.5 9.4
Feb-05 19.1 9.2
Mar-05 19.5 9.3
Apr-05 19.6 9.0
May-05 18.6 9.1
Jun-05 17.9 9.0
Jul-05 17.6 8.8
Aug-05 18.4 9.2
Sep-05 17.9 8.4
Oct-05 17.9 8.6
Nov-05 17.5 8.5
Dec-05 17.5 8.7
Jan-06 16.9 8.6
Feb-06 17.8 9.1
Mar-06 17.1 8.7
Apr-06 16.7 8.4
May-06 17.1 8.5
Jun-06 16.6 7.3
Jul-06 17.1 8.0
Aug-06 17.1 8.4
Sep-06 17.1 8.0
Oct-06 16.3 7.9
Nov-06 16.2 8.3
Dec-06 16.1 7.5
Jan-07 16.3 8.3
Feb-07 16.7 8.5
Mar-07 17.8 9.1
Apr-07 16.9 8.6
May-07 16.6 8.2
Jun-07 16.5 7.7
Jul-07 17.2 8.7
Aug-07 17.0 8.8
Sep-07 16.3 8.7
Oct-07 17.0 8.4
Nov-07 17.3 8.6
Dec-07 16.6 8.4
Jan-08 17.4 9.0
Feb-08 16.9 8.7
Mar-08 16.5 8.7
Apr-08 16.9 9.3
May-08 16.6 7.9
Jun-08 17.1 9.0
Jul-08 17.0 9.7
Aug-08 17.7 9.6
Sep-08 18.7 10.2
Oct-08 20.0 10.4
Nov-08 18.9 9.8
Dec-08 19.9 10.6
Jan-09 19.8 10.7
Feb-09 20.1 11.7
Mar-09 20.8 12.3
Apr-09 21.6 13.1
May-09 22.4 14.2
Jun-09 23.9 17.2
Jul-09 25.1 15.9
Aug-09 25.3 16.0
Sep-09 26.7 17.7
Oct-09 27.6 18.9
Nov-09 29.1 20.0
Dec-09 29.8 20.3
Jan-10 30.3 20.1
Feb-10 29.8 19.9
Mar-10 31.4 20.4
Apr-10 33.1 22.0
May-10 33.9 22.5
Jun-10 34.5 25.0
Jul-10 33.7 21.8
Aug-10 33.6 20.5
Sep-10 33.5 20.1
Oct-10 34.3 21.5
Nov-10 34.2 21.5
Dec-10 34.9 22.3
Jan-11 37.1 21.7
Feb-11 37.4 21.1
Mar-11 38.9 21.6
Apr-11 38.3 20.8
May-11 39.6 21.9
Jun-11 39.8 22.1
Jul-11 40.2 21.2
Aug-11 40.3 21.7
Sep-11 40.4 21.8
Oct-11 39.2 20.8
Nov-11 40.9 21.5
Dec-11 40.8 21.0
Jan-12 40.1 21.1
Feb-12 40.0 20.3

Note: For the mean duration of unemployment, survey responses are top-coded at 2 years before April 2011 and at 5 years thereafter. NBER recession periods represented in this chart are January 1980 to July 1980; July 1981 to November 1982; July 1990 to March 1991; March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 12. Long-Term Unemployed1
Month Percent of all unemployed
Jan-78 12.6
Feb-78 10.6
Mar-78 11.2
Apr-78 11.1
May-78 11.3
Jun-78 10.5
Jul-78 10.4
Aug-78 10.1
Sep-78 10.2
Oct-78 10.0
Nov-78 8.8
Dec-78 8.2
Jan-79 8.8
Feb-79 9.0
Mar-79 9.6
Apr-79 9.0
May-79 8.8
Jun-79 8.8
Jul-79 7.8
Aug-79 8.5
Sep-79 8.6
Oct-79 8.5
Nov-79 9.0
Dec-79 8.6
Jan-80 8.3
Feb-80 7.6
Mar-80 9.1
Apr-80 9.3
May-80 8.9
Jun-80 9.6
Jul-80 10.7
Aug-80 11.3
Sep-80 12.0
Oct-80 13.1
Nov-80 14.2
Dec-80 14.8
Jan-81 15.7
Feb-81 15.5
Mar-81 15.2
Apr-81 14.4
May-81 14.0
Jun-81 14.0
Jul-81 13.8
Aug-81 14.5
Sep-81 13.5
Oct-81 13.2
Nov-81 12.7
Dec-81 12.6
Jan-82 12.6
Feb-82 13.2
Mar-82 13.6
Apr-82 14.6
May-82 15.5
Jun-82 17.0
Jul-82 16.8
Aug-82 17.0
Sep-82 17.8
Oct-82 19.5
Nov-82 19.5
Dec-82 21.3
Jan-83 22.9
Feb-83 23.5
Mar-83 24.4
Apr-83 24.6
May-83 24.9
Jun-83 26.0
Jul-83 24.5
Aug-83 23.6
Sep-83 23.5
Oct-83 23.1
Nov-83 22.7
Dec-83 22.0
Jan-84 22.4
Feb-84 20.8
Mar-84 20.4
Apr-84 20.3
May-84 20.0
Jun-84 19.3
Jul-84 18.7
Aug-84 17.6
Sep-84 17.2
Oct-84 17.1
Nov-84 17.4
Dec-84 16.7
Jan-85 15.5
Feb-85 16.2
Mar-85 16.1
Apr-85 16.4
May-85 14.8
Jun-85 15.3
Jul-85 15.0
Aug-85 14.9
Sep-85 14.8
Oct-85 14.5
Nov-85 16.0
Dec-85 14.8
Jan-86 13.9
Feb-86 14.1
Mar-86 14.0
Apr-86 13.9
May-86 13.8
Jun-86 15.0
Jul-86 14.7
Aug-86 14.7
Sep-86 14.8
Oct-86 14.8
Nov-86 14.3
Dec-86 14.6
Jan-87 14.3
Feb-87 14.2
Mar-87 14.3
Apr-87 14.4
May-87 14.8
Jun-87 14.5
Jul-87 13.5
Aug-87 14.5
Sep-87 13.9
Oct-87 13.3
Nov-87 13.1
Dec-87 13.0
Jan-88 12.5
Feb-88 12.9
Mar-88 12.3
Apr-88 12.3
May-88 12.5
Jun-88 12.3
Jul-88 11.9
Aug-88 11.7
Sep-88 12.3
Oct-88 11.8
Nov-88 10.8
Dec-88 11.4
Jan-89 11.0
Feb-89 10.0
Mar-89 10.7
Apr-89 11.0
May-89 9.9
Jun-89 9.3
Jul-89 9.5
Aug-89 8.7
Sep-89 9.1
Oct-89 9.8
Nov-89 9.8
Dec-89 9.6
Jan-90 9.7
Feb-90 9.4
Mar-90 9.6
Apr-90 9.5
May-90 9.5
Jun-90 9.5
Jul-90 9.8
Aug-90 10.2
Sep-90 10.6
Oct-90 10.4
Nov-90 10.8
Dec-90 10.6
Jan-91 10.9
Feb-91 10.9
Mar-91 11.1
Apr-91 11.6
May-91 11.9
Jun-91 12.6
Jul-91 12.9
Aug-91 13.5
Sep-91 13.7
Oct-91 13.9
Nov-91 15.4
Dec-91 16.4
Jan-92 17.5
Feb-92 18.1
Mar-92 18.8
Apr-92 18.9
May-92 20.6
Jun-92 21.3
Jul-92 21.5
Aug-92 21.0
Sep-92 21.5
Oct-92 23.1
Nov-92 20.7
Dec-92 21.4
Jan-93 21.2
Feb-93 20.7
Mar-93 20.0
Apr-93 18.2
May-93 19.6
Jun-93 19.5
Jul-93 19.8
Aug-93 20.1
Sep-93 20.2
Oct-93 20.4
Nov-93 21.0
Dec-93 20.8
Jan-94 20.1
Feb-94 20.7
Mar-94 21.2
Apr-94 21.3
May-94 21.3
Jun-94 19.9
Jul-94 19.6
Aug-94 19.6
Sep-94 20.0
Oct-94 20.8
Nov-94 19.7
Dec-94 18.9
Jan-95 18.3
Feb-95 17.2
Mar-95 18.8
Apr-95 18.7
May-95 17.5
Jun-95 16.8
Jul-95 16.7
Aug-95 16.3
Sep-95 16.9
Oct-95 16.5
Nov-95 16.7
Dec-95 16.4
Jan-96 16.2
Feb-96 16.5
Mar-96 18.2
Apr-96 18.3
May-96 18.1
Jun-96 19.4
Jul-96 18.3
Aug-96 18.2
Sep-96 17.4
Oct-96 16.7
Nov-96 15.7
Dec-96 16.1
Jan-97 16.1
Feb-97 15.7
Mar-97 15.6
Apr-97 16.2
May-97 15.7
Jun-97 15.8
Jul-97 16.3
Aug-97 16.2
Sep-97 16.2
Oct-97 16.0
Nov-97 14.8
Dec-97 15.4
Jan-98 15.7
Feb-98 15.2
Mar-98 14.1
Apr-98 14.7
May-98 13.8
Jun-98 12.6
Jul-98 13.3
Aug-98 13.2
Sep-98 14.5
Oct-98 13.6
Nov-98 14.4
Dec-98 13.5
Jan-99 12.0
Feb-99 13.2
Mar-99 12.2
Apr-99 11.4
May-99 12.4
Jun-99 13.7
Jul-99 12.3
Aug-99 12.1
Sep-99 12.0
Oct-99 12.4
Nov-99 11.9
Dec-99 12.1
Jan-00 12.7
Feb-00 10.8
Mar-00 11.0
Apr-00 10.7
May-00 11.1
Jun-00 11.2
Jul-00 12.3
Aug-00 12.2
Sep-00 11.5
Oct-00 11.3
Nov-00 10.6
Dec-00 11.4
Jan-01 11.3
Feb-01 11.7
Mar-01 11.1
Apr-01 11.0
May-01 10.0
Jun-01 11.2
Jul-01 10.8
Aug-01 12.2
Sep-01 11.5
Oct-01 11.8
Nov-01 13.9
Dec-01 13.6
Jan-02 14.6
Feb-02 14.9
Mar-02 15.9
Apr-02 16.8
May-02 18.8
Jun-02 19.6
Jul-02 19.0
Aug-02 18.9
Sep-02 19.1
Oct-02 19.9
Nov-02 20.5
Dec-02 22.1
Jan-03 20.5
Feb-03 21.8
Mar-03 21.0
Apr-03 21.9
May-03 21.6
Jun-03 22.8
Jul-03 22.0
Aug-03 22.2
Sep-03 22.5
Oct-03 22.4
Nov-03 23.4
Dec-03 23.1
Jan-04 22.7
Feb-04 22.9
Mar-04 23.6
Apr-04 22.1
May-04 21.9
Jun-04 22.5
Jul-04 20.7
Aug-04 20.3
Sep-04 21.4
Oct-04 21.5
Nov-04 21.4
Dec-04 20.8
Jan-05 21.2
Feb-05 20.4
Mar-05 21.8
Apr-05 21.0
May-05 20.1
Jun-05 18.5
Jul-05 18.7
Aug-05 18.9
Sep-05 18.9
Oct-05 18.9
Nov-05 18.0
Dec-05 18.7
Jan-06 16.7
Feb-06 18.7
Mar-06 18.6
Apr-06 18.6
May-06 18.9
Jun-06 16.6
Jul-06 18.3
Aug-06 18.3
Sep-06 18.1
Oct-06 15.9
Nov-06 16.4
Dec-06 16.2
Jan-07 16.3
Feb-07 18.0
Mar-07 18.6
Apr-07 17.4
May-07 16.5
Jun-07 16.4
Jul-07 18.3
Aug-07 17.5
Sep-07 17.5
Oct-07 17.7
Nov-07 18.9
Dec-07 17.4
Jan-08 18.5
Feb-08 17.8
Mar-08 16.8
Apr-08 17.8
May-08 18.4
Jun-08 18.2
Jul-08 18.9
Aug-08 19.7
Sep-08 21.2
Oct-08 22.2
Nov-08 21.1
Dec-08 23.0
Jan-09 22.6
Feb-09 23.5
Mar-09 24.3
Apr-09 27.1
May-09 27.2
Jun-09 29.1
Jul-09 33.9
Aug-09 34.2
Sep-09 36.4
Oct-09 36.4
Nov-09 39.3
Dec-09 40.2
Jan-10 41.5
Feb-10 41.2
Mar-10 43.7
Apr-10 45.4
May-10 45.2
Jun-10 44.9
Jul-10 44.6
Aug-10 42.5
Sep-10 41.9
Oct-10 42.3
Nov-10 42.3
Dec-10 44.3
Jan-11 43.9
Feb-11 43.9
Mar-11 45.5
Apr-11 43.2
May-11 45.0
Jun-11 44.2
Jul-11 44.4
Aug-11 43.1
Sep-11 44.7
Oct-11 42.2
Nov-11 43.1
Dec-11 42.5
Jan-12 42.9
Feb-12 42.6

Note: NBER recession periods represented in this chart are January 1980 to July 1980; July 1981 to November 1982; July 1990 to March 1991; March 2001 to November 2001; and December 2007 to June 2009.

1. Percent planning an increase in employment minus percent planning a reduction. Series seasonally adjusted by FRB staff.  Return to table

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 13. Probability of Reemployment by Duration of Unemployment
Quarter 1-4 weeks 5-14 weeks 15-26 weeks 27+ weeks
94:Q1 34.22 24.99 20.41 15.11
94:Q2 36.56 26.76 21.07 17.23
94:Q3 36.33 26.38 19.61 16.70
94:Q4 37.52 26.28 21.17 15.26
95:Q1 38.31 26.31 23.10 15.25
95:Q2 35.36 25.86 21.71 14.74
95:Q3 35.47 25.21 24.68 15.39
95:Q4 36.75 25.25 19.96 14.46
96:Q1 38.01 25.97 16.67 13.79
96:Q2 36.41 26.33 20.52 13.54
96:Q3 38.97 24.98 22.29 15.14
96:Q4 37.19 26.26 21.07 15.68
97:Q1 37.84 27.17 20.97 16.26
97:Q2 39.66 26.94 22.19 15.71
97:Q3 37.39 25.76 21.97 14.71
97:Q4 40.64 27.44 24.65 15.60
98:Q1 37.88 26.70 20.38 16.69
98:Q2 40.63 27.73 23.37 19.13
98:Q3 39.56 27.45 25.01 15.00
98:Q4 38.51 28.47 24.25 18.26
99:Q1 40.51 27.40 23.28 17.27
99:Q2 39.30 28.02 22.07 20.35
99:Q3 40.32 29.20 23.96 19.95
99:Q4 41.76 28.33 22.55 13.99
00:Q1 41.19 31.00 26.84 19.54
00:Q2 40.05 28.61 23.09 19.94
00:Q3 40.08 28.07 19.38 19.84
00:Q4 38.46 28.16 22.39 19.19
01:Q1 40.50 28.01 20.75 16.14
01:Q2 40.49 30.11 20.71 15.04
01:Q3 37.13 24.73 20.34 17.45
01:Q4 34.69 26.06 19.44 15.81
02:Q1 35.41 25.54 21.12 18.32
02:Q2 33.37 23.53 16.69 14.99
02:Q3 34.69 23.65 19.23 13.83
02:Q4 32.37 23.34 18.70 14.21
03:Q1 30.70 22.94 18.97 15.39
03:Q2 35.05 22.60 19.66 12.70
03:Q3 33.46 22.93 17.37 13.47
03:Q4 34.12 23.69 19.85 15.82
04:Q1 33.94 23.22 16.67 14.44
04:Q2 34.27 24.09 19.41 16.48
04:Q3 36.80 24.04 23.17 15.93
04:Q4 35.68 25.81 23.19 14.51
05:Q1 34.65 23.69 21.10 15.11
05:Q2 34.47 25.04 23.36 16.11
05:Q3 34.08 23.96 20.98 16.54
05:Q4 35.89 24.82 19.31 14.81
06:Q1 37.95 24.93 21.19 15.50
06:Q2 35.70 25.84 23.04 17.03
06:Q3 36.95 26.15 23.64 17.50
06:Q4 37.08 28.29 22.16 15.15
07:Q1 39.63 28.57 24.39 16.92
07:Q2 36.48 25.33 19.80 14.98
07:Q3 34.92 26.23 20.10 14.88
07:Q4 36.59 24.46 21.48 15.24
08:Q1 36.13 24.54 22.38 16.65
08:Q2 34.16 23.88 18.98 13.16
08:Q3 32.96 22.34 18.39 11.69
08:Q4 31.55 20.72 16.81 11.70
09:Q1 27.64 18.29 14.71 9.69
09:Q2 28.65 17.26 13.30 9.90
09:Q3 30.17 18.78 13.43 9.58
09:Q4 30.32 17.57 12.57 9.75
10:Q1 30.89 18.84 13.78 9.25
10:Q2 30.92 19.18 15.52 10.24
10:Q3 29.97 19.32 13.94 11.33
10:Q4 29.17 20.25 14.85 10.16
11:Q1 29.69 19.08 14.49 9.53
11:Q2 31.37 20.17 15.42 10.66
11:Q3 30.08 19.44 15.45 9.59
11:Q4 33.23 19.12 16.37 10.93

Note: NBER recession periods represented in this chart are January 1980 to July 1980; July 1981 to November 1982; July 1990 to March 1991; March 2001 to November 2001; and December 2007 to June 2009.

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Figure 14. Beveridge Curve, 2001-2012
by percent
Quarter Unemployment Rate Job openings rate
01:Q1 4.2 3.83
01:Q2 4.4 3.47
01:Q3 4.8 3.23
01:Q4 5.5 2.80
02:Q1 5.7 2.73
02:Q2 5.8 2.67
02:Q3 5.7 2.67
02:Q4 5.8 2.67
03:Q1 5.9 2.67
03:Q2 6.2 2.50
03:Q3 6.1 2.53
03:Q4 5.8 2.60
04:Q1 5.7 2.73
04:Q2 5.6 2.80
04:Q3 5.4 3.00
04:Q4 5.4 2.90
05:Q1 5.3 3.00
05:Q2 5.1 3.17
05:Q3 5.0 3.23
05:Q4 5.0 3.37
06:Q1 4.7 3.33
06:Q2 4.7 3.37
06:Q3 4.6 3.27
06:Q4 4.5 3.50
07:Q1 4.5 3.50
07:Q2 4.5 3.47
07:Q3 4.7 3.37
07:Q4 4.8 3.23
08:Q1 5.0 3.07
08:Q2 5.3 2.93
08:Q3 6.0 2.67
08:Q4 6.9 2.47
09:Q1 8.3 2.10
09:Q2 9.3 1.87
09:Q3 9.6 1.83
09:Q4 9.9 1.87
10:Q1 9.8 2.07
10:Q2 9.6 2.23
10:Q3 9.5 2.33
10:Q4 9.6 2.40
11:Q1 9.0 2.43
11:Q2 9.1 2.50
11:Q3 9.1 2.63
11:Q4 8.7 2.70

Source: U.S. Department of Labor, Bureau of Labor Statistics.

Last Update: March 25, 2012