That’s the internal, line-item from the BLS jobs report that’s frequently referred to as the “real unemployment rate” because it captures so-called discouraged workers who have simply stopped looking for a job.
It’s usually way above the headline unemployment report.
For example, last month unemployment was at 10% but U-6 was at 17.3%.
Well this time, it was not a red flag. It, too, fell big time sequentially to 16.5%.
Granted, the whole survey is a little bit confusing, becuase they’ve made some revisions, but for once, this is not a barking dog.