Historical Year Data · 1979

Unemployment Rate (U3) in 1979

Unemployment Rate (U3) opened 1979 at 5.90% and closed at 6.00%, a +1.69% move for the year. The high of 6.00% was reached on August 1, and the low of 5.60% on May 1.

Open

5.90%

1979-01

6.00%

12 data points

High

6.00%

Aug 1

Low

5.60%

May 1

Full Year Change

+1.69%

1978 Change

-6.25%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Jan	5.90%	5.90%	5.90%	5.90%	+0.00%
Feb	5.90%	5.90%	5.90%	5.90%	+0.00%
Mar	5.80%	5.80%	5.80%	5.80%	+0.00%
Apr	5.80%	5.80%	5.80%	5.80%	+0.00%
May	5.60%	5.60%	5.60%	5.60%	+0.00%
Jun	5.70%	5.70%	5.70%	5.70%	+0.00%
Jul	5.70%	5.70%	5.70%	5.70%	+0.00%
Aug	6.00%	6.00%	6.00%	6.00%	+0.00%
Sep	5.90%	5.90%	5.90%	5.90%	+0.00%
Oct	6.00%	6.00%	6.00%	6.00%	+0.00%
Nov	5.90%	5.90%	5.90%	5.90%	+0.00%
Dec	6.00%	6.00%	6.00%	6.00%	+0.00%

Events During 1979

1979 Volcker Shock

Stagflation

October 1979 – August 1982

Paul Volcker's Fed raised interest rates to 20% to break entrenched inflation. The policy triggered the deepest post-war recession but ended the stagflation era and established inflation-targeting credibility.

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