U2 sings: I still haven't found what I'm looking for...
U3 says: Official Unemployment Rate is 4.7%
U6 says: Real Unemployment Rate is 9.7% How can this be? Why is the Real Number more than twice as much as the Official Number?
From the Wall Street Journal Online:
The standard measure [U3] of unemployment only includes people who are
actively looking for work. Broader measures of unemployment and
underemployment have also declined in recent years.
These measures
include discouraged and marginally attached workers who would like to
work but have given up searching for employment.
The broadest measure [U6] of
underemployment was unchanged at 9.7% this month. This measure includes
workers who have given up searching and also part-time workers who
would prefer to work full time.
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Link: http://blogs.wsj.com/economics/2016/06/03/the-may-jobs-report-in-12-charts-2/
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See the numbers yourself: http://www.bls.gov/news.release/empsit.t15.htm
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