7.4% jobless rate is lowest in Reagan's term
National unemployment dropped significantly in May, to the lowest level since Ronald Reagan moved into the White House. The jobless rate dropped from 7.7 percent of the labor force to 7.4 percent and was seen by President Reagan as cheering evidence that the administration's economic policies are working effectively. The 7.4 percent includes civilians and the military. In civilian jobs only, the rate was 7.5 percent.
Unemployment was reported to be 8,514,000 in May, a drop of 329,000. The number working in civilian jobs rose to 105,288,000. Another 1,690,000 are in military jobs.