Labor Force Participation, over time
What was happening
12001 recessionMar–Nov 2001
An eight-month recession by NBER dates. The Federal Reserve has traced it largely to the end of the dot-com boom and the sharp fall in stock prices. Source: National Bureau of Economic Research ↗
2Great RecessionDec 2007–Jun 2009
An 18-month recession by NBER dates, the longest since World War II, following the collapse of the housing market and a financial crisis. Source: National Bureau of Economic Research ↗
3COVID-19 recessionFeb–Apr 2020
The shortest recession on record by NBER dates: two months, February to April 2020. Source: National Bureau of Economic Research ↗
4COVID-19 national emergencyMar 13, 2020
A national emergency is declared as the pandemic spreads; lockdowns and business closures follow. The public health emergency lasts until May 11, 2023. Source: Federal Register (Proclamation 9994) ↗
5Federal government shutdownOct 1–Nov 12, 2025
The longest shutdown on record (43 days). Several October 2025 surveys were never collected, so some series have a gap. Source: U.S. Bureau of Labor Statistics ↗
U.S. Bureau of Labor Statistics · Current Population Survey: labor force participation rate · Monthly · Original source