 In April 2020, while Trump was in office, the unemployment rate was 14.8%, according to data from the U.S. Bureau of Labor Stats and the Federal Reserve Bank of St. Louis. By August, the unemployment rate dropped below 10%. It was at 6.4% in January 2021 when Biden took office. The unemployment rate was between 3.5% and 3.8% from February 2019 to February 2020, the year prior to the COVID-19 pandemic's impact on the U.S. economy.