Last updated Nov 29, 2025
economy
By the end of 2023, the U.S. unemployment rate will have risen from the low‑3% range (where it was in late 2022) to approximately 5–6%, driven by accumulating job cuts across the economy.
you're starting to see economists say we're going to go from three point something percent unemployment rate to say, 5 or 6% unemployment next year. So I think we're just beginning to see the the job cuts start to add up.View on YouTube
Explanation

According to the U.S. Bureau of Labor Statistics, the seasonally adjusted national unemployment rate was 3.7% in December 2023, only slightly above 3.5–3.7% in late 2022 (e.g., 3.6% in November 2022 and 3.5% in December 2022), and never reached 5–6% at any point in 2023. (bls.gov)

Since the prediction was that by the end of 2023 unemployment would have risen from the low‑3% range to approximately 5–6%, and the actual rate was still in the high‑3% range, the prediction did not come true.