Unemployment Rate Back to 2020 Levels in Triad
February 6, 2022
Since the spring of 2020, we have seen the unemployment rate steadily decline as effects of the pandemic on employment have lessened. Data for December 2021 show the region's unemployment rate at 3.3%, well below the March 2020 rate of 4.4%. While employment has recovered slowly and the number of people in the labor force has also declined, these rates indicate a strong employment picture overall. Here is a detailed review of the regional employment picture at year end. Nationally, the Bureau of Labor Statistics released detailed charts looking at the composition of the labor market as well as characteristics of the unemployed. They have also produced a helpful video on the unemployment rate.