Broader U-6 Unemployment Rate Increases to 16.8% in February
The U.S. jobless rate was unchanged at 9.7% in February, following a decline the previous month, but the government’s broader measure of unemployment ticked up 0.3 percentage point to 16.8%. The comprehensive gauge of labor underutilization, known as the “U-6? for its data classification by the Labor Department , accounts for people who have stopped looking for work or who can’t find full-time jobs. Though the rate is still 0.6 percentage point below its high of 17.4% in October, its continuing divergence from the official number (the “U-3? unemployment measure) indicates the job market has a long way to go before growth in the economy translates into relief for workers. The 9.7% unemployment rate is calculated based on people who are without jobs, who are available to work and who have actively…(read more)
Related posts:
