Broader U-6 Jobless Rate up to 17.1%: Why the Jump?

October 8, 2010 10:16

The government’s broader measure of unemployment rose even more to 17.1%, the highest rate since April and down just slightly from the October 2009 high of 17.4%.

By Phil Izzo at Wall Street Journal


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.

The key to the rise in the broader unemployment rate was due to a 612,000 jump in the number of people employed part time but who would prefer full-time work. Meanwhile, the number of discouraged workers and those who classify themselves as “marginally attached” to the labor force also increased.


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