The unemployment rate in the United States has risen slightly since the second quarter of 2023. A close examination of the data shows that a decrease in the job-finding rate and an increase in the duration of unemployment are the main contributing factors. This trend often appears at the onset of recessions, prompting closer attention to these statistics from the labor market. The job-finding rate illustrates how many unemployed individuals find work, and it has notably decreased recently. On the other hand, the unemployment duration—how long people remain unemployed—has steadily risen. In the past, these patterns were common during the onset of a recession. Therefore, it is essential to keep a close watch on these metrics for any increasing recession risks. The unemployment rate’s recent uptick has mostly been due to a decrease in the job-finding rate, similar to conditions before the pandemic recessions. We also noted that the median duration of unemployment increased greatly. Though the entire unemployment rate’s recent increase has been slower than in previous pre-pandemic recessions, careful monitoring of these metrics is necessary due to their known correlation with recession risks.

In case these unemployment rate trends persist and affect you directly, contacting the Employment Development Department (EDD) might be necessary. You will find helpful resources on how to get through to the EDD on platforms like eddcaller.com, which provides strategies and tips to reach out to live EDD representatives effectively and in a shorter wait time. So, whether you’re getting an EDD payment status, discussing unemployment benefits or inquiring about job search services, the resources and strategies on this platform will be invaluable.