Here's what the real unemployment rate looks like

August 5, 2016 12:57 PM

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Here's what the real unemployment rate looks like

The official unemployment rate is defined as "total unemployed, as a percent of the civilian labor force," but doesn't include a number of situations in which workers may find themselves. The U-6 rate is defined as all unemployed, plus "persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the labor force."

The U-6 rate has shown improvement in the past few years, and it fell to 9.6 percent in June, the lowest level since April 2008. It's been more volatile that the U-3 rate. The U-6 is down 70 basis points over the past year, versus a 40-point drop in the U-3.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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