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progree

(12,393 posts)
6. If the broader measure is U-6, sometimes called the underemployment rate
Thu Jul 21, 2022, 11:57 AM
Jul 2022

Then it looks to be correct, the 6.7% rate is a record low for this series that goes back to 1994

http://data.bls.gov/timeseries/LNS13327709

It's basically the official unemployment rate (U-3) except that in U-6 they count people who have looked for work in the past year (rather than just the last 4 weeks as in U-3),

and in U-6 they count people who are working part-time who say they want a full-time job (but not in U-3 )

The latter criteria is why some call U-6 the underemployment rate.

YEAR JAN FEB MAR etc. etc.
1994 11.7 11.4 11.5 11.3 10.9 11.0 10.8 10.6 10.4 10.4 10.1 10.1
1995 10.1 9.9 9.9 10.1 10.1 10.1 10.1 10.1 10.2 10.0 10.1 10.0
1996 9.8 10.0 9.9 10.0 9.8 9.7 9.7 9.4 9.5 9.5 9.4 9.6
1997 9.4 9.3 9.1 9.3 8.9 8.9 8.7 8.7 8.7 8.5 8.4 8.5
1998 8.4 8.3 8.4 8.0 8.0 8.1 8.2 7.9 8.0 7.9 7.7 7.6
1999 7.6 7.7 7.5 7.7 7.4 7.5 7.5 7.3 7.4 7.2 7.2 7.1
2000 7.0 7.1 7.1 6.9 7.1 7.0 7.0 7.1 7.0 6.8 7.1 6.9
2001 7.3 7.3 7.3 7.4 7.5 7.9 7.9 8.2 8.7 9.3 9.4 9.6
2002 9.4 9.5 9.4 9.7 9.6 9.5 9.6 9.6 9.6 9.6 9.8 9.8
2003 9.9 10.1 10.0 10.2 10.1 10.3 10.3 10.1 10.4 10.2 10.1 9.8
2004 9.8 9.7 10.0 9.6 9.7 9.6 9.5 9.4 9.4 9.7 9.4 9.3
2005 9.2 9.2 9.1 9.0 8.9 9.0 8.8 8.9 9.0 8.7 8.7 8.6
2006 8.4 8.4 8.2 8.1 8.2 8.4 8.5 8.4 8.0 8.2 8.1 7.9
2007 8.3 8.1 8.0 8.2 8.2 8.3 8.4 8.4 8.4 8.4 8.5 8.8
2008 9.1 9.0 9.1 9.2 9.7 10.0 10.5 10.8 11.1 11.8 12.7 13.6
2009 14.1 15.1 15.8 15.9 16.5 16.5 16.4 16.7 16.7 17.1 17.1 17.2
2010 16.6 17.0 17.1 17.2 16.7 16.4 16.4 16.5 16.9 16.6 16.9 16.6
2011 16.1 16.0 16.0 16.1 15.9 16.1 15.9 16.1 16.4 15.8 15.6 15.2
2012 15.1 15.0 14.6 14.7 14.8 14.7 14.7 14.6 14.8 14.4 14.4 14.4
2013 14.5 14.3 13.9 14.0 13.9 14.2 13.8 13.6 13.5 13.6 13.1 13.1
2014 12.6 12.6 12.7 12.3 12.3 12.0 12.1 12.0 11.7 11.5 11.4 11.2
2015 11.2 10.9 10.9 10.9 10.9 10.4 10.3 10.2 10.0 9.8 10.0 9.9
2016 9.7 9.6 9.8 9.9 9.9 9.5 9.6 9.6 9.7 9.6 9.4 9.2
2017 9.2 9.0 8.8 8.6 8.5 8.5 8.5 8.6 8.3 8.1 8.0 8.1
2018 8.0 8.1 7.9 7.9 7.8 7.8 7.5 7.4 7.5 7.5 7.6 7.6
2019 8.0 7.2 7.4 7.4 7.2 7.2 6.9 7.2 6.9 7.0 6.9 6.8
2020 6.9 7.0 8.8 22.9 21.2 18.0 16.5 14.3 12.8 12.1 12.0 11.7
2021 11.1 11.1 10.7 10.3 10.1 9.8 9.2 8.8 8.5 8.2 7.7 7.3
2022 7.1 7.2 6.9 7.0 7.1 6.7

The link above includes a graph to help spot the high and low periods.

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