Unemployment Falls to 4.3% in March, Extending Downward Trend
The U.S. unemployment rate dropped to 4.3% in March 2026, down from 4.4% in February and continuing a steady decline from 4.5% in November 2025.
The Bureau of Labor Statistics reports the U.S. unemployment rate fell to 4.3% in March 2026, matching January's level and down from 4.4% in February.
Recent Unemployment Rate
| Month | Rate |
|---|---|
| March 2026 | 4.3% |
| February 2026 | 4.4% |
| January 2026 | 4.3% |
| December 2025 | 4.4% |
| November 2025 | 4.5% |
The labor market has shown steady improvement over the past five months, with the rate declining from 4.5% in November to 4.3% in March. The 0.2 percentage point drop represents approximately 320,000 fewer unemployed persons.
The current rate remains above the pre-pandemic low of 3.4% reached in January 2023 but sits comfortably within what economists consider full employment range.
Source: Bureau of Labor Statistics via FRED, Federal Reserve Bank of St. Louis.