Unemployment of 6.3% is Back to Recession-Era Level

May 2, 2014 - 10:49 AM

Unemployment

(AP Photo)

(CNSNews.com) – The national unemployment rate was 6.3% in April, which is the same unemployment rate America experienced halfway through the last recession, in the fall of 2008.

The last official recession occurred over 18 months, from December 2007 to June 2009, according to the National Bureau of Economic Research.

When the recession started, the national unemployment rate was 5.0%. When the recession ended, in June 2009, the national unemployment rate was 9.5%.

According to the Bureau of Labor Statistics, the unemployment rate was in the 6’s range in the fall of 2008, nine months into the recession. Specifically, the rate was for August 2008, 6.1%; September, 6.1%; October, 6.5%; and November, 6.8%.

The unemployment rate for September-October 2008 – average of 6.3% -- was equal to what it is today in 2014: 6.3%.

The recession from December 2007 to June 2009, which was 18 months, made it "the longest of any recession since World War II," said the National Bureau of Economic Research.