Unemployment under Ronald Reagan
Unemployment rate · Republican · Jan 20, 1981 – Jan 20, 1989
Under Ronald Reagan, the unemployment rate went from 7.2% in Dec 1980 to 5.3% in Dec 1988, down 1.9 pts. That is −0.24 pts/yr, against −0.15 pts/yr in the four years before. Ranked by yearly change, it is the 4th-fastest fall of the 8 completed terms since 1977.
Share of the labor force that is jobless and actively looking for work (U-3, seasonally adjusted). Source: Bureau of Labor Statistics, via FRED UNRATE. Monthly data, fetched Oct 19, 2026. The chart runs from four years before the term to two years after it.
Unemployment under Reagan, year by year
Highest reading during the term: 10.8% in Nov 1982. Lowest: 5.3% in Nov 1988.
| Period | Value | Change |
|---|---|---|
| Dec 1980, before inauguration | 7.2% | |
| Dec 1981 | 8.5% | +1.3 pts |
| Dec 1982 | 10.8% | +2.3 pts |
| Dec 1983 | 8.3% | −2.5 pts |
| Dec 1984 | 7.3% | −1.0 pts |
| Dec 1985 | 7.0% | −0.3 pts |
| Dec 1986 | 6.6% | −0.4 pts |
| Dec 1987 | 5.7% | −0.9 pts |
| Dec 1988 | 5.3% | −0.4 pts |
Unemployment under every president
Terms sorted by yearly change, fastest rise first, each next to the trend over the four years before it. A term's first year mostly reflects the previous administration's policies, and Congress, the Fed and the world economy move this number too. Why nothing here is a score.
| President | During term | 4 years before |
|---|---|---|
| George H. W. Bush 1989–1993 | 5.3% → 7.4% +0.53 pts/yr | −0.50 pts/yr |
| Donald Trump (1st term) 2017–2021 | 4.7% → 6.7% +0.50 pts/yr | −0.80 pts/yr |
| George W. Bush 2001–2009 | 3.9% → 7.3% +0.43 pts/yr | −0.38 pts/yr |
| Donald Trump (2nd term) 2025–present | 4.1% → 4.2% +0.06 pts/yr · through Sep 2026 | −0.65 pts/yr |
| Jimmy Carter 1977–1981 | 7.8% → 7.2% −0.15 pts/yr | +0.65 pts/yr |
| Ronald Reagan 1981–1989 | 7.2% → 5.3% −0.24 pts/yr | −0.15 pts/yr |
| Barack Obama 2009–2017 | 7.3% → 4.7% −0.32 pts/yr | +0.47 pts/yr |
| Bill Clinton 1993–2001 | 7.4% → 3.9% −0.44 pts/yr | +0.53 pts/yr |
| Joe Biden 2021–2025 | 6.7% → 4.1% −0.65 pts/yr | +0.50 pts/yr |
Every term lined up from inauguration day on one chart · Unemployment rate by president since 1980