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◆ Did the US unemployment rate fall below 4% in 2024?◆ Is it true that renewable energy is now cheaper than coal?◆ Did global CO2 emissions decrease last year?◆ Has the US national debt exceeded 34 trillion dollars?◆ Did voter turnout increase in the last presidential election?◆ Is inflation in the eurozone below 3%?◆ Did the US unemployment rate fall below 4% in 2024?◆ Is it true that renewable energy is now cheaper than coal?◆ Did global CO2 emissions decrease last year?◆ Has the US national debt exceeded 34 trillion dollars?◆ Did voter turnout increase in the last presidential election?◆ Is inflation in the eurozone below 3%?
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VerdictTRUE
The Claim

"Did the US unemployment rate fall below 4% in 2024?"

Bottom Line

The US unemployment rate did fall below 4% in 2024, specifically in February and March of that year.

Analysis

In 2024, the US unemployment rate was reported to be below 4% for at least two months. According to statements from Acting Secretary of Labor Julie Su, the unemployment rate was 3.9% in February 2024 and ticked down to 3.8% in March 2024. These instances contributed to a streak where the jobless rate remained below 4% for 26 consecutive months.

While the monthly rates dipped below 4%, the overall trend for the year showed a slight increase. The U.S. annual average jobless rate for 2024 increased by 0.4 percentage points from the prior year to 4.0 percent. The unemployment rate also increased in the first half of 2024 before leveling off, with the fourth quarter of 2024 averaging 4.2 percent.

Despite the overall annual average reaching 4.0% and quarterly averages being higher, the monthly figures confirm that the unemployment rate did fall below 4% during early 2024.

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