The US Unemployment Rate — the percentage of the labor force that is unemployed and actively seeking work. Published monthly by the Bureau of Labor Statistics.
Unemployment is a key Fed mandate target. The Sahm Rule states that when the 3-month average unemployment rate rises 0.5% above its prior 12-month low, a recession has likely begun.
Below 4% = full employment, Fed focused on inflation. Rising toward 5% = labor market weakening, Fed pivots to growth concerns. Rapid spike = recession confirmed.