Chart 14. Unemployment rate and estimated nonaccelerating inflation rate of unemployment, 1973–2023 and 2023–33 projected (in percent)
Year	Historical unemployment rate	Estimated nonaccelerating inflation rate of unemployment
1973	4.9	6.1
1974	5.6	6.1
1975	8.5	6.2
1976	7.7	6.2
1977	7.0	6.2
1978	6.1	6.2
1979	5.8	6.2
1980	7.2	6.2
1981	7.6	6.2
1982	9.7	6.1
1983	9.6	6.1
1984	7.5	6.1
1985	7.2	6.0
1986	7.0	6.0
1987	6.2	5.9
1988	5.5	5.9
1989	5.3	5.8
1990	5.6	5.7
1991	6.8	5.6
1992	7.5	5.6
1993	6.9	5.5
1994	6.1	5.4
1995	5.6	5.4
1996	5.4	5.4
1997	4.9	5.3
1998	4.5	5.3
1999	4.2	5.3
2000	4.0	5.2
2001	4.7	5.2
2002	5.8	5.1
2003	6.0	5.1
2004	5.5	5.0
2005	5.1	5.0
2006	4.6	5.0
2007	4.6	4.9
2008	5.8	4.9
2009	9.3	4.9
2010	9.6	4.8
2011	8.9	4.8
2012	8.1	4.8
2013	7.4	4.7
2014	6.2	4.7
2015	5.3	4.7
2016	4.9	4.6
2017	4.4	4.6
2018	3.9	4.6
2019	3.7	4.5
2020	8.1	4.5
2021	5.4	4.5
2022	3.6	4.4
2023	3.6	4.4
2024 projected	^[1]	4.4
2025 projected	^[1]	4.4
2026 projected	^[1]	4.4
2027 projected	^[1]	4.4
2028 projected	^[1]	4.3
2029 projected	^[1]	4.3
2030 projected	^[1]	4.3
2031 projected	^[1]	4.3
2032 projected	^[1]	4.3
2033 projected	4.2	4.2
^[1] Not applicable. Source: Historical and projected data for the unemployment rate are from the U.S. Bureau of Labor Statistics. Historical and projected data for the nonaccelerating inflation rate of unemployment are from the Congressional Budget Office.