Ways the Bureau of Labor Statistics measures unemployment!
It's the U6 number that is of course the most relevant although it is the one that is least frequently reported.
U1: Percentage of labor force unemployed 15 weeks or longer.
U2: Percentage of labor force who lost jobs or completed temporary work.
U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks.
U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently.
U6: U5 + Part time workers who want to work full time, but cannot due to economic reasons (underemployment) (Source)
The unemployment story behind the unemployment story!
In order to get a better idea of the true state of the employment situation in the United States read the article "Unemployment rate lies, exaggerations ..." at Citizen Wells News here.
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