Wednesday, December 10, 2008
Charts: Underemployment (1)
Three measures of unemployment, seasonally adjusted, monthly. U-1 is a measure of persons unemployed 15 weeks or longer, as a percent of the civilian labor force. U-3 is the official unemployment rate. U-6 includes total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers. "Marginally attached workers are persons who currently are neither working nor looking for work but indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job. Persons employed part time for economic reasons are those who want and are available for full-time work but have had to settle for a part-time schedule."