10) Following the big economic crisis, 59.3% was the average employment rate in 2009
If we go back in time, historical employment statistics from the previous three decades will show that the employment rate is usually rather steady.
However, huge events can influence the employment rate; for instance, the general chaos following the 9/11 attacks decreased the employment rate by almost 3% during this period, up until 2003.
Now, even though the employment rate was still around the national average, there was a noticeable decrease.
Yet another great example of this is the big economic crisis of 2009 which caused the employment rate to drop to 59.3%; a significant drop from 62.2%, back in 2008, and, as such, is the lowest rate in the last three decades.
Employment statistics by year show that, for the past decade, the employment rate had a steady increase; except for the year 2011 when it decreased by 0.1% when the employment rate was at 58.5% (back in 2010).
In 2017, the employment rate was at 60.1% and it was the first time since 2008, that the employment rate was higher than 60%; it hasn’t gone under that threshold ever since.