U-6 is what people cite when they want to make things sound really bad in the jobs market. It’s the so-called “real” unemployment rate, because it attempts to capture discouraged workers.So what did U-6 do this time?
It fell sharply from 16.7% to 16.1%, a very large drop. In other words, the improvement on the headline from 9.4% to 9.0% can’t just be explained by discouraged workers leaving the work force.
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