September 2026, No. 26-12
In general, the distribution of bank reserves tends to be highly persistent during periods of abundant reserves, but redistribution intensifies when reserves reach lower (yet, still ample) levels.
Economic Research
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Hornstein-Kudlyak-Lange Non-Employment Index
October 8, 2026
The Hornstein-Kudlyak-Lange Non-Employment Index (NEI) was 7.3 percent in September 2026, decreasing by 0.3 percentage point from August 2026. The index decreased by 0.5 percentage point compared to September 2025.
Month,HKL Nonemployment Index,HKL Nonemployment Index Including PTER,Civilian Unemployment Rate (U-3),Unemployed plus Marginally Attached (U-5),Unemployed plus Marginally Attached and PTER (U-6) 1994-01-01,9.986136214,11.04363621,6.6,8,11.7 1994-02-01,9.810209789,10.9634746,6.6,7.9,11.4 1994-03-01,9.703857815,10.9201153,6.5,7.8,11.5 1994-04-01,9.572033081,10.75890099,6.4,7.7,11.3 1994-05-01,9.363075545,10.5845627,6.1,7.3,10.9 1994-06-01,9.352813011,10.56756705,6.1,7.3,11 1994-07-01,9.295816875,10.45843437,6.1,7.4,10.8 1994-08-01,9.245970479,10.36604367,6,7.3,10.6 1994-09-01,9.154303959,10.26364483,5.9,7.2,10.4 1994-10-01,9.080662712,10.22160377,5.8,7,10.4 1994-11-01,8.980110498,10.13198011,5.6,6.8,10.1 1994-12-01,8.900465208,10.01810371,5.5,6.7,10.1 1995-01-01,8.920819896,10.10728643,5.6,6.7,10.1 1995-02-01,8.84993408,9.928902628,5.4,6.6,9.9 1995-03-01,8.887440455,9.9923871,5.4,6.6,9.9 1995-04-01,8.976063844,10.06903038,5.8,6.8,10.1 1995-05-01,9.018055486,10.15293675,5.6,6.8,10.1 1995-06-01,8.954509445,10.0778234,5.6,6.7,10.1 1995-07-01,8.93931011,10.07612094,5.7,6.8,10.1 1995-08-01,8.981360496,10.12742112,5.7,6.8,10.1 1995-09-01,8.970830595,10.12155985,5.6,6.7,10.2 1995-10-01,8.963733893,10.08613336,5.5,6.7,10 1995-11-01,8.950308424,10.08736937,5.6,6.7,10.1 1995-12-01,8.971863622,10.08111828,5.6,6.7,10 1996-01-01,8.94203261,9.97910159,5.6,6.8,9.8 1996-02-01,8.920110926,10.00223579,5.5,6.7,10 1996-03-01,8.853833894,9.951040558,5.5,6.6,9.9 1996-04-01,8.845481714,9.929654649,5.6,6.7,10 1996-05-01,8.863255433,9.943735892,5.6,6.6,9.8 1996-06-01,8.713727728,9.786508581,5.3,6.5,9.7 1996-07-01,8.718408541,9.825967883,5.5,6.5,9.7 1996-08-01,8.629837329,9.729504636,5.1,6.2,9.4 1996-09-01,8.567454826,9.652368202,5.2,6.2,9.5 1996-10-01,8.618484148,9.702162363,5.2,6.2,9.5 1996-11-01,8.698608818,9.706803468,5.4,6.4,9.4 1996-12-01,8.623418047,9.703370177,5.4,6.4,9.6 1997-01-01,8.619466458,9.680814151,5.3,6.3,9.4 1997-02-01,8.620727236,9.654400315,5.2,6.2,9.3 1997-03-01,8.531108947,9.5435287,5.2,6.2,9.1 1997-04-01,8.429475646,9.47389304,5.1,6.1,9.3 1997-05-01,8.422124177,9.419241355,4.9,5.9,8.9 1997-06-01,8.377599166,9.360761521,5,6,8.9 1997-07-01,8.246796033,9.261045926,4.9,5.8,8.7 1997-08-01,8.207811957,9.205788384,4.8,5.8,8.7 1997-09-01,8.284192083,9.26352361,4.9,5.8,8.7 1997-10-01,8.181438761,9.159580064,4.7,5.6,8.5 1997-11-01,8.153762133,9.126749362,4.6,5.6,8.4 1997-12-01,8.179435891,9.12207239,4.7,5.7,8.5 1998-01-01,8.098542708,9.077558359,4.6,5.6,8.4 1998-02-01,8.050772794,8.991665124,4.6,5.5,8.3 1998-03-01,8.099932124,9.039383143,4.7,5.6,8.4 1998-04-01,7.93308853,8.815029001,4.3,5.2,8 1998-05-01,7.946392926,8.862987052,4.4,5.3,8 1998-06-01,8.013136607,8.934882035,4.5,5.4,8.1 1998-07-01,8.071457532,9.019910913,4.5,5.5,8.2 1998-08-01,8.045469755,8.913317261,4.5,5.4,7.9 1998-09-01,7.994305622,8.834048684,4.6,5.5,8 1998-10-01,8.009332512,8.849283772,4.5,5.4,7.9 1998-11-01,7.911647593,8.717246115,4.4,5.3,7.7 1998-12-01,7.886796949,8.711099609,4.4,5.2,7.6 1999-01-01,7.868136788,8.713494212,4.3,5.2,7.6 1999-02-01,7.910812605,8.736933255,4.4,5.2,7.7 1999-03-01,7.859808478,8.715788303,4.2,5,7.5 1999-04-01,8.042567238,8.834021792,4.3,5.2,7.7 1999-05-01,7.877647987,8.706656022,4.2,5,7.4 1999-06-01,7.899819037,8.718659576,4.3,5.1,7.5 1999-07-01,7.846775635,8.67298648,4.3,5.1,7.5 1999-08-01,7.818110343,8.619391458,4.2,5,7.3 1999-09-01,7.833121166,8.62513824,4.2,5,7.4 1999-10-01,7.731117965,8.494657795,4.1,5,7.2 1999-11-01,7.700626835,8.45937105,4.1,4.9,7.2 1999-12-01,7.653376129,8.433991845,4,4.8,7.1 2000-01-01,7.593650803,8.354895643,4,4.8,7 2000-02-01,7.710278055,8.456134357,4.1,4.9,7.1 2000-03-01,7.733310214,8.49382536,4,4.8,7.1 2000-04-01,7.609895672,8.333025401,3.8,4.7,6.9 2000-05-01,7.784146939,8.570330183,4,4.8,7.1 2000-06-01,7.628121497,8.378013708,4,4.7,7 2000-07-01,7.641839431,8.396802385,4,4.8,7 2000-08-01,7.674394042,8.448126685,4.1,4.8,7.1 2000-09-01,7.635100686,8.394759732,3.9,4.7,7 2000-10-01,7.621053342,8.374367616,3.9,4.6,6.8 2000-11-01,7.656394068,8.445700581,3.9,4.7,7.1 2000-12-01,7.639475618,8.389159381,3.9,4.7,6.9 2001-01-01,7.728579067,8.508619054,4.2,5,7.3 2001-02-01,7.762425523,8.523818095,4.2,5.1,7.3 2001-03-01,7.821971968,8.58536912,4.3,5,7.3 2001-04-01,7.973369113,8.721292939,4.4,5.1,7.4 2001-05-01,8.060919666,8.874361244,4.3,5.1,7.5 2001-06-01,8.139983799,9.020369688,4.5,5.3,7.9 2001-07-01,8.095380921,8.936857672,4.6,5.4,7.9 2001-08-01,8.40739464,9.220686362,4.9,5.8,8.2 2001-09-01,8.380975709,9.360070923,5,5.8,8.7 2001-10-01,8.644757632,9.672606484,5.3,6.3,9.3 2001-11-01,8.73230111,9.700423481,5.5,6.4,9.4 2001-12-01,8.841679373,9.849055275,5.7,6.6,9.6 2002-01-01,8.913418206,9.852076386,5.7,6.6,9.4 2002-02-01,8.821844213,9.796878654,5.7,6.5,9.5 2002-03-01,8.806623791,9.751143364,5.7,6.6,9.4 2002-04-01,8.873967292,9.824168682,5.9,6.9,9.7 2002-05-01,8.799487542,9.753338978,5.8,6.8,9.6 2002-06-01,8.786810098,9.723449906,5.8,6.7,9.5 2002-07-01,8.803402808,9.771061909,5.8,6.8,9.6 2002-08-01,8.738976338,9.765054774,5.7,6.7,9.6 2002-09-01,8.704124487,9.695530408,5.7,6.6,9.6 2002-10-01,8.678011337,9.67325922,5.7,6.6,9.6 2002-11-01,8.819287125,9.778458108,5.9,6.8,9.8 2002-12-01,8.750238718,9.728122949,6,6.9,9.8 2003-01-01,8.795541263,9.840621498,5.8,6.8,9.9 2003-02-01,8.821023292,9.900256991,5.9,6.9,10.1 2003-03-01,8.933516491,9.991937352,5.9,6.9,10 2003-04-01,8.887064772,9.960192111,6,7,10.2 2003-05-01,8.962535784,10.00884926,6.1,7.1,10.1 2003-06-01,9.00025329,10.04669358,6.3,7.2,10.3 2003-07-01,8.969789021,10.03354296,6.2,7.1,10.3 2003-08-01,8.945166443,9.982721457,6.1,7.1,10.1 2003-09-01,8.934276238,10.03568608,6.1,7.1,10.4 2003-10-01,8.919302377,9.99535957,6,7,10.2 2003-11-01,8.785450105,9.848183905,5.8,6.8,10.1 2003-12-01,8.772232746,9.839766643,5.7,6.6,9.8 2004-01-01,8.713639446,9.775853791,5.7,6.7,9.8 2004-02-01,8.66520094,9.674228107,5.6,6.6,9.7 2004-03-01,8.791497026,9.859673873,5.8,6.8,10 2004-04-01,8.662778219,9.673664348,5.6,6.6,9.6 2004-05-01,8.656034423,9.693395149,5.6,6.6,9.7 2004-06-01,8.632731164,9.632222899,5.6,6.6,9.6 2004-07-01,8.624929232,9.626212477,5.5,6.5,9.5 2004-08-01,8.598235611,9.627047761,5.4,6.4,9.4 2004-09-01,8.58038426,9.584994729,5.4,6.4,9.4 2004-10-01,8.619824285,9.686392603,5.5,6.5,9.7 2004-11-01,8.571321279,9.562091441,5.4,6.3,9.4 2004-12-01,8.557446127,9.546203176,5.4,6.3,9.3 2005-01-01,8.508102384,9.482313526,5.3,6.3,9.2 2005-02-01,8.568669462,9.511769223,5.4,6.4,9.2 2005-03-01,8.492303528,9.471745812,5.2,6.2,9.1 2005-04-01,8.452710784,9.380449498,5.2,6.1,9 2005-05-01,8.374203891,9.33850799,5.1,6.1,8.9 2005-06-01,8.406603934,9.391235438,5,6,9 2005-07-01,8.318242055,9.292458702,5,5.9,8.8 2005-08-01,8.233661782,9.247008248,4.9,5.9,8.9 2005-09-01,8.378575773,9.413065197,5,6,9 2005-10-01,8.33849055,9.280806159,5,5.9,8.7 2005-11-01,8.401480031,9.308729337,5,6,8.7 2005-12-01,8.355558899,9.257269472,4.9,5.9,8.6 2006-01-01,8.241950837,9.142026479,4.7,5.6,8.4 2006-02-01,8.238543493,9.15664001,4.8,5.6,8.4 2006-03-01,8.136380698,9.011328093,4.7,5.6,8.2 2006-04-01,8.268716529,9.09720753,4.7,5.6,8.1 2006-05-01,8.091795843,8.996064216,4.6,5.5,8.2 2006-06-01,8.084137588,9.025436036,4.6,5.6,8.4 2006-07-01,8.144745426,9.084367695,4.7,5.7,8.5 2006-08-01,8.113835876,9.050905505,4.7,5.7,8.4 2006-09-01,8.095764315,9.011912717,4.5,5.3,8 2006-10-01,8.059845088,9.011454878,4.4,5.3,8.2 2006-11-01,8.1101553,9.003214053,4.5,5.4,8.1 2006-12-01,8.009200175,8.914965622,4.4,5.2,7.9 2007-01-01,8.083786457,9.002397022,4.6,5.5,8.3 2007-02-01,8.05579976,8.963590082,4.5,5.4,8.1 2007-03-01,7.903010028,8.826701724,4.4,5.3,8 2007-04-01,8.180812523,9.085418253,4.5,5.4,8.2 2007-05-01,8.132815589,9.102551731,4.4,5.3,8.2 2007-06-01,8.104671265,9.035475145,4.6,5.4,8.3 2007-07-01,8.121699532,9.07298054,4.7,5.5,8.4 2007-08-01,8.146111433,9.156769806,4.6,5.5,8.4 2007-09-01,8.194610275,9.189891253,4.7,5.5,8.4 2007-10-01,8.189722381,9.131395987,4.7,5.6,8.4 2007-11-01,8.108196685,9.059027302,4.7,5.6,8.5 2007-12-01,8.280193972,9.261742682,5,5.8,8.8 2008-01-01,8.292802609,9.332160763,5,5.9,9.1 2008-02-01,8.282081154,9.325337848,4.9,5.8,9 2008-03-01,8.399813884,9.45282261,5.1,5.9,9.1 2008-04-01,8.428285425,9.514483934,5,5.9,9.2 2008-05-01,8.586035849,9.721190209,5.4,6.3,9.7 2008-06-01,8.638869249,9.822966371,5.6,6.5,10 2008-07-01,8.823356602,10.10886257,5.8,6.7,10.5 2008-08-01,8.968794336,10.2403313,6.1,7.1,10.8 2008-09-01,9.055641123,10.38107106,6.1,7.1,11.1 2008-10-01,9.194091214,10.62305251,6.5,7.5,11.8 2008-11-01,9.445246238,10.98421236,6.8,8,12.7 2008-12-01,9.718950028,11.42032309,7.3,8.4,13.6 2009-01-01,10.14926307,11.88052041,7.8,9,14.1 2009-02-01,10.36880046,12.23014719,8.3,9.5,15.1 2009-03-01,10.56360654,12.50307081,8.7,10,15.8 2009-04-01,10.66051998,12.51700114,9,10.2,15.9 2009-05-01,10.8596002,12.79056445,9.4,10.7,16.5 2009-06-01,10.89805088,12.82535352,9.5,10.7,16.5 2009-07-01,10.73504709,12.66653267,9.5,10.7,16.4 2009-08-01,10.7493694,12.66872788,9.6,10.9,16.7 2009-09-01,10.82108047,12.67954003,9.8,11.1,16.7 2009-10-01,10.93343724,12.83187527,10,11.3,17.1 2009-11-01,10.78808364,12.69061044,9.9,11.3,17.1 2009-12-01,10.85211419,12.75815659,9.9,11.3,17.2 2010-01-01,10.76023175,12.57602738,9.8,11.2,16.6 2010-02-01,10.77064102,12.64869407,9.8,11.2,17 2010-03-01,10.74746901,12.68495599,9.9,11.2,17.1 2010-04-01,10.59560349,12.5146542,9.9,11.4,17.2 2010-05-01,10.48403464,12.34292894,9.6,11,16.7 2010-06-01,10.40520583,12.22660651,9.4,10.9,16.4 2010-07-01,10.469362,12.3080897,9.4,10.9,16.4 2010-08-01,10.54069071,12.38482948,9.5,10.9,16.5 2010-09-01,10.57143177,12.4651606,9.5,11,16.9 2010-10-01,10.52421121,12.38074133,9.4,11,16.6 2010-11-01,10.67022536,12.50620608,9.8,11.3,16.9 2010-12-01,10.47368639,12.33458637,9.3,10.8,16.6 2011-01-01,10.39158288,12.18822809,9.1,10.6,16.1 2011-02-01,10.33730338,12.1088679,9,10.6,16 2011-03-01,10.25348813,12.06272978,9,10.4,16 2011-04-01,10.37032338,12.1815623,9.1,10.6,16.1 2011-05-01,10.30716492,12.10634346,9,10.4,15.9 2011-06-01,10.41359338,12.18756578,9.1,10.7,16.1 2011-07-01,10.39681037,12.16191776,9,10.6,15.9 2011-08-01,10.33287226,12.14458065,9,10.5,16.1 2011-09-01,10.29919618,12.14006821,9,10.5,16.4 2011-10-01,10.25247726,12.05521064,8.8,10.3,15.8 2011-11-01,10.17558958,11.91775967,8.6,10.2,15.6 2011-12-01,10.09130538,11.78607875,8.5,10,15.2 2012-01-01,9.97751545,11.70606818,8.3,9.8,15.1 2012-02-01,9.958144543,11.66377843,8.3,9.8,15 2012-03-01,9.962351528,11.57303268,8.2,9.6,14.6 2012-04-01,9.962847111,11.59815902,8.2,9.6,14.7 2012-05-01,9.924079744,11.60328572,8.2,9.7,14.8 2012-06-01,9.961171049,11.63139523,8.2,9.6,14.7 2012-07-01,9.969833955,11.64722432,8.2,9.6,14.7 2012-08-01,10.02096652,11.64354234,8.1,9.6,14.6 2012-09-01,9.791515275,11.50467208,7.8,9.3,14.8 2012-10-01,9.766917125,11.46195203,7.8,9.2,14.4 2012-11-01,9.823513167,11.48515536,7.7,9.2,14.4 2012-12-01,9.87650119,11.50218507,7.9,9.4,14.4 2013-01-01,9.990572762,11.6500357,8,9.3,14.5 2013-02-01,9.807167384,11.47760783,7.7,9.2,14.3 2013-03-01,9.743952648,11.31546957,7.5,9,13.9 2013-04-01,9.754479572,11.37807367,7.6,9,14 2013-05-01,9.755611081,11.36336905,7.5,8.8,13.9 2013-06-01,9.72915859,11.37871762,7.5,9.1,14.2 2013-07-01,9.571018284,11.21407778,7.3,8.7,13.8 2013-08-01,9.457816592,11.04030863,7.2,8.6,13.6 2013-09-01,9.45690529,11.03557634,7.2,8.6,13.5 2013-10-01,9.534337504,11.18553682,7.2,8.6,13.6 2013-11-01,9.322958067,10.88678203,6.9,8.2,13.1 2013-12-01,9.254808645,10.84192904,6.7,8.1,13.1 2014-01-01,9.220890786,10.69953777,6.6,8,12.6 2014-02-01,9.238890961,10.71835075,6.7,8,12.6 2014-03-01,9.230209225,10.72435765,6.7,8,12.7 2014-04-01,9.059309074,10.5720288,6.2,7.6,12.3 2014-05-01,9.127335091,10.57165371,6.3,7.7,12.3 2014-06-01,9.026149983,10.52340399,6.1,7.3,12 2014-07-01,9.06498514,10.54840895,6.2,7.4,12.1 2014-08-01,9.058637847,10.52319975,6.1,7.4,12 2014-09-01,9.001479057,10.40720873,5.9,7.2,11.7 2014-10-01,8.869272881,10.32525242,5.7,7.1,11.5 2014-11-01,8.933974931,10.3168915,5.8,7.1,11.4 2014-12-01,8.805426075,10.17806473,5.6,6.9,11.2 2015-01-01,8.842810686,10.2062594,5.7,6.9,11.2 2015-02-01,8.791313607,10.1252067,5.5,6.7,10.9 2015-03-01,8.737813959,10.05405812,5.4,6.7,10.9 2015-04-01,8.73698373,10.04815392,5.4,6.7,10.9 2015-05-01,8.693081448,9.99020896,5.6,6.8,10.9 2015-06-01,8.664484077,9.931023767,5.3,6.4,10.4 2015-07-01,8.661990391,9.898095358,5.2,6.3,10.3 2015-08-01,8.436887934,9.75744771,5.1,6.2,10.2 2015-09-01,8.543524914,9.73388294,5,6.2,10 2015-10-01,8.540812549,9.732147455,5,6.2,9.8 2015-11-01,8.510871433,9.732308663,5.1,6.1,10 2015-12-01,8.443109112,9.645257041,5,6.1,9.9 2016-01-01,8.373751732,9.555643392,4.8,6,9.7 2016-02-01,8.373173314,9.555601201,4.9,5.9,9.6 2016-03-01,8.370509021,9.562316926,5,6.1,9.8 2016-04-01,8.426682925,9.602653536,5.1,6.1,9.9 2016-05-01,8.324646863,9.576620872,4.8,5.9,9.9 2016-06-01,8.30988105,9.435055195,4.9,5.9,9.5 2016-07-01,8.322705115,9.475389757,4.8,5.9,9.6 2016-08-01,8.237239061,9.477746068,4.9,5.9,9.6 2016-09-01,8.429153221,9.582212961,5,6.1,9.7 2016-10-01,8.418251513,9.621627575,4.9,5.9,9.6 2016-11-01,8.270681557,9.391693513,4.7,5.9,9.4 2016-12-01,8.268732458,9.368048339,4.7,5.7,9.2 2017-01-01,8.243647114,9.379647523,4.7,5.6,9.2 2017-02-01,8.173473521,9.271910868,4.6,5.6,9 2017-03-01,8.099990579,9.170776947,4.4,5.4,8.8 2017-04-01,8.055754624,9.081762393,4.4,5.4,8.6 2017-05-01,8.034746929,9.036809254,4.4,5.3,8.5 2017-06-01,7.946150004,8.972753956,4.3,5.2,8.5 2017-07-01,7.902565716,8.922280896,4.3,5.2,8.5 2017-08-01,7.951044823,9.032184828,4.4,5.3,8.6 2017-09-01,7.851020066,8.849001567,4.3,5.2,8.3 2017-10-01,7.820745091,8.79332774,4.2,5.1,8.1 2017-11-01,7.849305705,8.786902669,4.2,5.1,8 2017-12-01,7.855810171,8.829690474,4.1,5.1,8.1 2018-01-01,7.822958665,8.804118882,4,4.9,8 2018-02-01,7.793398694,8.786347567,4.1,5,8.1 2018-03-01,7.794416095,8.762119112,4,4.9,8 2018-04-01,7.76534053,8.720748637,4,4.8,7.9 2018-05-01,7.678759828,8.613495658,3.8,4.7,7.8 2018-06-01,7.693608462,8.617610763,4,4.8,7.8 2018-07-01,7.596699092,8.474582582,3.8,4.7,7.5 2018-08-01,7.62346523,8.511932326,3.8,4.7,7.4 2018-09-01,7.594729462,8.477921028,3.7,4.7,7.5 2018-10-01,7.591266502,8.487591533,3.8,4.7,7.5 2018-11-01,7.57561508,8.483989601,3.8,4.7,7.6 2018-12-01,7.639081355,8.546096814,3.9,4.8,7.6 2019-01-01,7.760192425,8.759839093,4,4.9,8 2019-02-01,7.657749631,8.492500492,3.8,4.6,7.2 2019-03-01,7.648903256,8.523282371,3.8,4.7,7.4 2019-04-01,7.546777435,8.452849312,3.7,4.5,7.4 2019-05-01,7.490787866,8.309583683,3.6,4.5,7.1 2019-06-01,7.476160015,8.330172896,3.6,4.5,7.2 2019-07-01,7.547138554,8.301095778,3.7,4.5,6.9 2019-08-01,7.383283657,8.247617134,3.6,4.5,7.2 2019-09-01,7.252452429,8.06727582,3.5,4.2,6.9 2019-10-01,7.220906706,8.067898714,3.6,4.3,6.9 2019-11-01,7.28333188,8.095720603,3.6,4.3,6.8 2019-12-01,7.278810902,8.089099748,3.6,4.3,6.8 2020-01-01,7.385657824,8.207638069,3.6,4.4,7 2020-02-01,7.42260891,8.258538937,3.5,4.4,7 2020-03-01,8.185491273,9.292821215,4.4,5.3,8.8 2020-04-01,15.58478707,17.73893935,14.8,16,22.9 2020-05-01,14.27685928,16.32673896,13.2,14.5,21.1 2020-06-01,12.50250626,14.26031521,11,12.4,18 2020-07-01,11.87694993,13.47513848,10.2,11.3,16.5 2020-08-01,10.55962848,12.01542426,8.4,9.6,14.2 2020-09-01,10.27386318,11.4850123,7.8,8.9,12.8 2020-10-01,9.241363091,10.54183137,6.9,8,12.1 2020-11-01,9.214331164,10.48552962,6.7,7.8,11.9 2020-12-01,9.216003087,10.4076994,6.7,7.9,11.7 2021-01-01,8.988167657,10.09144593,6.4,7.5,11.2 2021-02-01,8.995246829,10.1371727,6.2,7.4,11.1 2021-03-01,8.840240101,9.945221648,6.1,7.2,10.8 2021-04-01,8.812619501,9.830026796,6.1,7.1,10.3 2021-05-01,8.680022156,9.67390702,5.8,6.9,10.1 2021-06-01,8.565074957,9.491373659,5.9,6.9,9.8 2021-07-01,8.337673855,9.199041794,5.4,6.5,9.2 2021-08-01,8.127457436,8.965809098,5.1,6,8.8 2021-09-01,8.006543774,8.849672038,4.7,5.7,8.4 2021-10-01,7.869560737,8.716937518,4.5,5.5,8.2 2021-11-01,7.717120609,8.524552092,4.1,5.1,7.7 2021-12-01,7.617903388,8.385653184,3.9,4.9,7.3 2022-01-01,7.823775864,8.517983624,4,4.9,7.1 2022-02-01,7.633196649,8.402883352,3.9,4.7,7.2 2022-03-01,7.622493835,8.403832524,3.7,4.5,7 2022-04-01,7.628785478,8.398110453,3.7,4.6,7 2022-05-01,7.470996366,8.282136852,3.6,4.5,7.1 2022-06-01,7.486611822,8.22535615,3.6,4.5,6.7 2022-07-01,7.437588246,8.201100222,3.5,4.4,6.8 2022-08-01,7.409953697,8.170524182,3.6,4.4,6.9 2022-09-01,7.446193387,8.166482242,3.5,4.4,6.7 2022-10-01,7.45650374,8.146040251,3.6,4.5,6.7 2022-11-01,7.451236166,8.129313057,3.6,4.5,6.7 2022-12-01,7.371398021,8.119004084,3.5,4.2,6.6 2023-01-01,7.358854062,8.113227239,3.5,4.3,6.7 2023-02-01,7.347294946,8.093837937,3.6,4.4,6.8 2023-03-01,7.370800196,8.130801171,3.5,4.3,6.7 2023-04-01,7.33521278,8.068692515,3.4,4.3,6.6 2023-05-01,7.425976734,8.125274763,3.6,4.5,6.7 2023-06-01,7.392076836,8.22962197,3.6,4.4,6.9 2023-07-01,7.296925053,8.071042345,3.5,4.4,6.7 2023-08-01,7.380656393,8.143406199,3.7,4.6,7.1 2023-09-01,7.431074789,8.190062267,3.7,4.6,7 2023-10-01,7.428446383,8.225026491,3.9,4.7,7.2 2023-11-01,7.433719835,8.149585373,3.7,4.6,7 2023-12-01,7.553601984,8.34962713,3.8,4.7,7.2 2024-01-01,7.54291947,8.373019389,3.7,4.6,7.2 2024-02-01,7.591094726,8.383514738,3.9,4.7,7.3 2024-03-01,7.516026865,8.307963968,3.9,4.8,7.3 2024-04-01,7.533914709,8.370312303,3.9,4.8,7.4 2024-05-01,7.558537061,8.391841614,3.9,4.8,7.4 2024-06-01,7.557418992,8.39000031,4.1,4.9,7.4 2024-07-01,7.66611275,8.54166709,4.2,5.1,7.8 2024-08-01,7.681225418,8.551539086,4.2,5,7.8 2024-09-01,7.590890508,8.457686619,4.1,5,7.7 2024-10-01,7.612884658,8.452891209,4.1,5,7.7 2024-11-01,7.685896302,8.470117555,4.2,5.1,7.7 2024-12-01,7.58055925,8.394276542,4.1,5,7.6 2025-01-01,7.590952988,8.43155672,4,4.9,7.5 2025-02-01,7.701643031,8.575967862,4.2,5.1,8 2025-03-01,7.769935137,8.632973392,4.2,5.1,7.9 2025-04-01,7.737577643,8.598655038,4.2,5.1,7.8 2025-05-01,7.76066115,8.625340462,4.3,5.1,7.8 2025-06-01,7.736275445,8.589427017,4.1,5.1,7.7 2025-07-01,7.735758074,8.619096363,4.3,5.2,7.9 2025-08-01,7.756703014,8.597682676,4.3,5.3,8.1 2025-09-01,7.787337607,8.633340038,4.4,5.4,8.1 2025-10-01,.,.,.,.,. 2025-11-01,7.777417959,8.806088665,4.5,5.5,8.7 2025-12-01,7.737643544,8.705394889,4.4,5.3,8.4 2026-01-01,8.068657248,9.023904703,4.3,5.2,8.1 2026-02-01,7.736117733,8.524256398,4.4,5.3,7.9 2026-03-01,7.52485448,8.294059134,4.3,5.3,8 2026-04-01,7.524861869,8.355853395,4.3,5.3,8.2 2026-05-01,7.809682987,8.683335473,4.3,5.3,8.1 2026-06-01,7.751998079,8.695107469,4.2,5.2,7.9 2026-07-01,7.600091367,8.496919925,4.1,5.1,7.9 2026-08-01,7.55032063,8.334553514,4.1,5.1,7.7 2026-09-01,7.289774883,8.034005659,4.2,5,7.6
Since 2021, the Collaboration of Research Economists (CORE) model has combined frontier research and an innovative delivery method to advance collaboration within the economics profession. Economists from a range of disciplines join with Richmond Fed economists eight times per year for seminars, collaboration, and formal and informal networking — all with an eye toward advancing economic research.
Being a Research Associate at the Richmond Fed
Research Associates help the Richmond Fed's economists with their research and policy memos for briefing the Bank's president on the state of the economy. For recent graduates thinking about applying to a Ph.D. program, this position is an ideal way to learn more about academic economic research.