U.S. ECONOMY & MARKETS10 Sep 2026 · 00:35 UTC

INDICATOR DETAIL

Sahm-style unemployment warning indicator

JSON report
Unavailableunit unavailable
MissingPeriod ending 31 Aug 2026Available 05 Sep 2026 · 21:45 UTC

History

7 readings.

History JSON ↗
All retained dates

Dates refer to the economic period ending and apply to all charts below. Leave a date blank for an open range.

Published metric history, unit unavailable7 observed values from 2025-03-31 to 2025-09-30. Horizontal position follows economic dates. Lines stop at explicitly missing source periods. Recent exact values follow in the table; all retained readings are available through the pinned JSON query.0.110.170.230.290.352025-03-31: 0.3 unit unavailable2025-04-30: 0.3 unit unavailable2025-05-31: 0.33 unit unavailable2025-06-30: 0.23 unit unavailable2025-07-31: 0.17 unit unavailable2025-08-31: 0.13 unit unavailable2025-09-30: 0.23 unit unavailable31 Mar 202530 Jun 202530 Sep 2025

Showing periods 1–7 of 7 in this date range. Each chart page contains at most 180 original periods; values are not downsampled. All retained snapshot-selected periods are available.

Uses the data available in this saved assessment; later revisions may change historical values. This reconstructed chart does not show what was known on each historical date. Missing source periods break the line; unavailable metric values are omitted. Quality is evaluated at the assessment date.

Exact values · final 12 periods in this chart window
Exact plotted metric readings
Economic periodValueUnitQuality
31 Mar 20250.3unit unavailableStale
30 Apr 20250.3unit unavailableStale
31 May 20250.33unit unavailableStale
30 Jun 20250.23unit unavailableStale
31 Jul 20250.17unit unavailableStale
31 Aug 20250.13unit unavailableStale
30 Sep 20250.23unit unavailableStale

Economic period & freshness

Calculation uses the latest completed observation available at evaluation time, with its actual economic period and original availability. An older period contributes to assessment only within the configured source-age limit. Newly observed missing or invalid evidence is not replaced with an earlier value. Source status uses economic-age thresholds, not a release calendar; no future release time is inferred.

Source timing diagnostics
InputLatest source periodObservation ageAvailable to ECO ISource status
Unemployment rate31 Aug 202610 days05 Sep 2026 · 21:45 UTCCurrent
THE PUBLISHED TRANSFORM

What this value measures

Sahm-style unemployment warning indicator

MA3_t - min(MA3_t-1, MA3_t-2, ..., MA3_t-12), where MA3_t = (U_t + U_t-1 + U_t-2) / 3; all fifteen calendar-month observations must be present.

ECO I computes this Sahm-style indicator from the current BLS unemployment vintage; it is not the published real-time Sahm series. Require fifteen consecutive nonmissing calendar-month observations: the current three-month average and twelve preceding three-month averages. Do not skip missing windows, interpolate, or floor negative results at zero. October 2025 CPS data were not collected; any required window containing that month remains unavailable. The published unemployment level and other valid labor evidence remain usable. A rise of 0.50 percentage points is the established Sahm warning threshold, not proof of an NBER recession or a calibrated event probability; false alarms are possible. Population controls and seasonal revisions affect comparability. All required input vintages must be available by the assessment time. This shares the CPS input with unemployment context and cannot count as independent labor evidence or contribute to the legacy ordinal score.

Definition 8.0.0 · us_sahm_current_bls
VALIDATION MATURITY

Research informed

ECO I computes this Sahm-style indicator from the current BLS unemployment vintage; it is not the published real-time Sahm series.

Published source interpretation and explicitly declared primary assessment policy; no legacy ordinal severity calibration.

Canonical source observations
Period endingSource valueUnitQualityAvailable to ECO I
31 Jan 20264.3%Valid05 Sep 2026 · 21:45 UTC
28 Feb 20264.4%Valid05 Sep 2026 · 21:45 UTC
31 Mar 20264.3%Valid05 Sep 2026 · 21:45 UTC
30 Apr 20264.3%Valid05 Sep 2026 · 21:45 UTC
31 May 20264.3%Valid05 Sep 2026 · 21:45 UTC
30 Jun 20264.2%Valid05 Sep 2026 · 21:45 UTC
31 Jul 20264.1%Valid05 Sep 2026 · 21:45 UTC
31 Aug 20264.1%Valid05 Sep 2026 · 21:45 UTC
BLS source notes
Retained BLS source notes
Period endingPublished footnote
31 Oct 2025[9] Data unavailable due to the 2025 lapse in appropriations.
31 Jan 2026[12] January 2026 estimates were revised to incorporate updated population controls. For more information, see www.bls.gov/cps/documentation.htm#pop.

Original BLS JSON · c879383dd4d7… ↗

Showing 1 of 1 retained source files. All retained source file hashes (JSON) ↗

Credit: U.S. Bureau of Labor Statistics. Retrieval dates accompany the observations. BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov. File hashes identify the exact retrieved bytes; these are not historical point-in-time vintages.

Chart source observations · 32 periods in this windowCanonical source observations, %31 observed values from 2024-01-31 to 2026-08-31. Horizontal position follows economic dates. Lines stop at explicitly missing source periods. Recent exact values follow in the table; all retained readings are available through the pinned JSON query.3.623.864.14.344.582024-01-31: 3.7 %2024-02-29: 3.9 %2024-03-31: 3.9 %2024-04-30: 3.9 %2024-05-31: 3.9 %2024-06-30: 4.1 %2024-07-31: 4.2 %2024-08-31: 4.2 %2024-09-30: 4.1 %2024-10-31: 4.1 %2024-11-30: 4.2 %2024-12-31: 4.1 %2025-01-31: 4 %2025-02-28: 4.2 %2025-03-31: 4.2 %2025-04-30: 4.2 %2025-05-31: 4.3 %2025-06-30: 4.1 %2025-07-31: 4.3 %2025-08-31: 4.3 %2025-09-30: 4.4 %2025-11-30: 4.5 %2025-12-31: 4.4 %2026-01-31: 4.3 %2026-02-28: 4.4 %2026-03-31: 4.3 %2026-04-30: 4.3 %2026-05-31: 4.3 %2026-06-30: 4.2 %2026-07-31: 4.1 %2026-08-31: 4.1 %31 Jan 202416 May 202531 Aug 2026

Showing periods 1–32 of 32 in this date range. Each chart page contains at most 180 original periods; values are not downsampled. All retained snapshot-selected periods are available.

Uses snapshot-selected vintages. The final eight exact values in this window are tabulated above. The pinned JSON query provides all matching observations and provenance; follow its cursor for further pages.

Snapshot identity & machine-readable report
Snapshot
ero_us_macro_financial_20260910T003539Z_f004bde27e96
Profile version
10.0.0
Generated
10 Sep 2026 · 00:47 UTC
Analytical content SHA-256
f004bde27e969e3c81739b5588813c41b24e66d3926e28a0455a2692f9797820
Open the pinned JSON report

Source: U.S. Bureau of Labor Statistics. BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov. Data access dates are supplied as retrieved_at in canonical observations. Latest retained BLS access: 05 Sep 2026 · 21:45 UTC. BLS source terms

Source: BIS debt service ratio statistics. Model-based estimates. ECO I's calculations and interpretation are its own; BIS does not endorse them. BIS data are provided free of charge with attribution. BIS statistical-use terms