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The unemployment rate hit 5.70% in December 2001, marking a 2.9 standard deviation spike above the 60-month average of 4.47%. This represents the sharpest labor market deterioration since the mid-1990s. The data shows a clear recessionary pattern: unemployment climbed steadily from 3.90% in late 2000 to 5.70% by year-end 2001. This coincides with rising Treasury yields (4.47%, up 10.6%) and record-high CPI levels, suggesting stagflationary pressures. What's striking is how rapidly the job market shifted from near-record lows to significant distress in just 15 months.