Saturday, July 9, 2016

U-6: The real unemployment rate is still around 10% !!!

The US economy is still suffering from considerable unemployment as measured by the broadest government unemployment indicator: U-6.  Wages rose by only 2 cents in June 2016. indicating little wage pressure.

U-6 is often called the real unemployment rate.  U-6 includes the unemployed, discouraged, marginally attached workers plus the underemployed. All groups who would work or work more if jobs or hours were available.

U-6 has been below 10% since October 2015.



Unemployed(U-3) -- unemployed and actively looking for work in the past four weeks. This is the official rate.

Discouraged workers --are workers who  believe there are no jobs available for their skills and are not looking for work but would work if they could get it.

Marginally Attached Workers - are workers who are not working but would work if they could get it and looked in the past 12 months. Marginally Attached includes discouraged workers.

Underemployed - Workers who are working part time but want full time work.

Recessions are show in grey.

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