The U.S. job market has consistently strengthened since 2010, with unemployment decreasing significantly until 2020, when COVID-19 caused a temporary spike. As of early 2025, however, the trend appears to be reversing slightly with unemployment rising to 4.1%. Although this remains within acceptable limits by the Federal Reserve, disparities exist at local levels, where unemployment rates can far exceed national figures. The future trajectory of the job market hinges on economic policies and job availability in various regions.
Disruptions caused by the COVID-19 pandemic aside, the U.S. job market has steadily improved year after year for the better part of two decades.
While the share of the U.S. labor force joining the ranks of the unemployed appears to be growing, the national jobless rate likely remains within the Federal Reserve Bank's 'maximum employment' target.
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