Full Employment? Actual vs. Natural Unemployment Rates

March 26, 2013 - 12:46 PM

 

Sources: Actual average annual unemployment rates for 1998 through 2012 are from the Bureau of Labor Statistics. The projected average annual unemployment for 2013 through 2012 and the natural unemployment rates are from the Congressional Budget Office. Years of full employment are bolded.

Year               Actual Unemployment         Natural Unemployment

1988                5.5                                     5.9

1989                5.3                                     5.9

1990                5.6                                     5.8 to 5.9

1991                6.8                                     5.7 to 5.8

1992                7.5                                     5.7 to 5.6

1993                6.9                                     5.6 to 5.5

1994                6.1                                     5.4

1995                5.6                                     5.3

1996                5.4                                     5.2

1997                4.9                                     5.1

1998                4.5                                     5.1

1999                4.2                                     5.0

2000                4.0                                     5.0

2001                4.7                                     5.0

2002                5.8                                     5.0

2003                6.0                                     5.0

2004                5.5                                     5.0

2005                5.1                                     5.0

2006                4.6                                     5.0

2007                4.6                                     5.0

2008                5.8                                     5.0 to 5.1

2009                9.3                                     5.2 to 5.3

2010                9.6                                     5.4 to 5.5

2011                8.9                                     5.5

2012                8.1                                     5.5

Year               Projected Unemployment      Natural Unemployment

2013                7.9                                     5.5

2014                7.8                                     5.5

2015                7.1                                     5.5

2016                6.3                                     5.5

2017                5.6                                     5.5