us had the highest unemployment rate in the great depression.
us had the highest unemployment rate in the great depression.
when did the us have the highest unemployment rate?
the great depression
the peak of the recession occurred in november and december 1982, when the nationwide unemployment rate was 10.8%, the highest since the great depression. as of 2015, it is still the highest since the 1930s. in november, west virginia and michigan had the highest unemployment with 16.4%, alabama was in third with 15.3%. south dakota had the lowest unemployment rate in the nation, with 5.6%. flint, michigan, had the highest unemployment rate of all metro areas, with 23.4%. in march 1983, west virginia's unemployment rate hit 20.1%. in spring 1983, thirty states had double-digit unemployment. when reagan was re-elected in 1984, the latest unemployment numbers (august 1984) showed that west virginia still had the highest rate in the nation (13.6%) followed by mississippi (11.1%) and alabama (10.9%).
early 1980s recession
since undergoing rapid economic development in the 1960s, the republic of korea's unemployment rate had been consistently low after processes of democratization in the late 1980s, korea saw a sharp increase in labour participation, and hence a lowered unemployment rate. from the 1980’s until the 1998 asian financial crisis, the unemployment rate averaged approximately 2.3 per cent. the 1998 asian financial crisis saw the unemployment rate skyrocket to 7 per cent, totalling 1,490,000 people. comparatively, the 2008 global financial crisis had minimal effect on south korea, with the unemployment rate rising from 3.16 per cent to 3.64 per cent. from 2008 to 2013, the unemployment rate remained relatively steady, averaging at 3.4 per cent. in the past 5 years, however, it has been steadily rising, and as of 2019 is at 4.8 per cent, the highest unemployment rate since the asian financial crisis.
unemployment in south korea