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U6 Underemployment Rate Misunderstood

The U6 unemployment number, which includes part-timers who want to be full-time, is likely nowhere near Depression-era levels.

Jason Stipp: There are a couple of things that I wanted to talk to you about, that a lot of folks are pointing to as potential negatives, other negative indicators in the job market, and I think the biggest one that we hear a lot of folks talk about is this U6 rate. This is the rate that includes workers who are part-time who would want to be full-time, but they can't find the work, and otherwise marginally attached workers.

Can you first tell us a little bit about what does that U6 number encapsulate and why is it higher than the headline unemployment number?

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