Table A-15. Alternative measures of labor underutilization

Table A-15. Alternative measures of labor underutilization

Look at the U-6 data line. This includes persons marginally attached to the labor force. These are people who currently are neither working nor looking for work but indicate that they want to work and are available for a job and have looked for work sometime in the past 12 months. It also includes discouraged workers that have given a job-market related reason for not currently looking for work. It also includes persons employed part time for economic reasons which mean they want and are available for full-time work but have had to settle for a part-time position. This would include someone who is working an hour a day or maybe only ten hours a week.

The U-6 data indicates a better understanding why you hear of so many of your friends and neighbors that are looking for work. It represents the real world. The White House likes to distribute the U-3 data as it doesn't sound as dire, but as you can see the U-6 number what we should be pay attention to.