Current Forecast of US Unemployment Rate
Units: Unemployment Rate, %, Average of Month. Seasonally Adjusted.
Solid Line = Actual Values. Dashed Line = Predicted Values.
Forecast Values for US Unemployment Rate
How This Forecast is Produced
The forecast of the indicator above is produced using Multichannel Singular Spectrum Analysis, or MSSA.
The forecast is made by using MSSA to decompose the time series into a trend component and many cyclical components. The decomposed components of the time series are then projected forward in time.