In November, the national unemployment rate changed very little from October, rising from 4.1% to 4.2%. It’s been slightly elevated in recent months compared to levels a year ago-likely a symptom of the Federal Reserve’s higher interest rates, which can slow hiring and decrease job openings. It’s up from 3.7% the year before, but for comparison, unemployment rates surged to 10% in October 2009 during the Great Recession, and a full recovery took years. At the height of the brief COVID-19 recession in April 2020, unemployment hit 14.7%.