The unemployment rate was 4.1% in Sept. after being 4.2% in Aug. The unemployment rate was 3.6% for all of 2022 as well as 2023. Click here to go to that data. Also see Unemployment Rate from FRED (Federal Reserve Economic Data), the Research Division at the Federal Reserve Bank of St. Louis.
The inflation rate over the last 12 months is 2.44%. The CPI was 307.789 in Sept. 2023 and 315.301 in Sept. 2024. Since 315.301/307.789 = 1.0244, we have a 2.44% inflation rate. See Consumer Price Index Data from 1913 to 2024.
The poverty rate for 2023, as reported by the U.S. Census Bureau last month, was 11.1% (that ties the 2nd lowest ever in 1973-the lowest ever was 10.5% in 2019). See Historical Poverty Tables: People and Families - 1959 to 2023. Then click on Table 2. Poverty Status of People by Family Relationship, Race, and Hispanic Origin. It is an Excel file.
The table below shows these rates for each year from 1975-83 and their averages.
|
Year |
UE Rate |
Inf. Rate |
Pov. Rate |
|
1975 |
8.5 |
6.9 |
15.2 |
|
1976 |
7.7 |
4.9 |
15.0 |
|
1977 |
7.1 |
6.7 |
14.0 |
|
1978 |
6.1 |
9.0 |
13.0 |
|
1979 |
5.9 |
13.3 |
11.7 |
|
1980 |
7.2 |
12.5 |
11.4 |
|
1981 |
7.6 |
8.9 |
11.6 |
|
1982 |
9.7 |
3.8 |
11.8 |
|
1983 |
9.6 |
3.8 |
12.3 |
|
AVG |
7.7 |
7.8 |
12.9 |
Not only are the averages of the inflation rates, unemployment rates and poverty rates from 1975-83 much higher than the current rates but the lowest of all three of these during those years is higher than what they are now. Those lows are in bold red. The relevant years are 1979, 1980, and 1982 & 1983.
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