The U-6 unemployment rate includes all who are looking for work, whether receiving benefits or not. (When they no longer receive benefits and have given up looking for work, they are no longer counted). The "U-3" is the 7% - 6.7% unemployment number that makes the headlines, each week. Of course, the U-6 number is the real unemployment number, and that is charted, here, at 13% with 11 million folks not counted at all, and "not counted" because they have decided to retire, move back in with their parents, or are in the underground labor force. (I am 68 and can earn as much as I want, without penalty . . . . and I am still working).
You have to go back to the Clinton days (1994) before you see numbers at 11.8% on this U-6 chart. Keep in mind, however, that millions more were being counted, back then. During the Obama era, 5 million of the 11 million I mentioned above, are able bodied and able to work outside the "underground" labor force. In other words, this is the worst time for employment since the 1930's. and we have Obama to thank for this prolonged mess.
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