Broad Measure of U.S. Jobless Rate Is Improving More Slowly

Despite the lowest unemployment rate in a decade, a broader measure of joblessness has been much slower to fall. The widely followed jobless rate (U-3) sits at 4.4 percent, and is forecast to hold there when the government issues its May jobs report on Friday. The so-called underemployment rate (U-6), which includes all unemployed persons plus those marginally attached or working part-time for economic reasons as a share of the labor force, sits at 8.6 percent. While the ratio has been leveling off, it is higher in this expansion than in the past.

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