The SPF value for the unemployment rate in 2020 is the midpoint of the annual forecast for 2020 and 2021.
Source: Bureau of Labor Statistics (retrieved from Federal Reserve Bank of St. Louis, FRED); Bureau of Economic Analysis (retrieved from Federal Reserve Bank of St. Louis, FRED); Summary of Economic Projections, available on the Board’s website at https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm; Survey of Professional Forecasters (retrieved from Federal Reserve Bank of Philadelphia Real−Time Data Center); Congressional Budget Office (The Budget and Economic Outlook). Figure 2.