Chart: What’s the real unemployment rate?
Friday, 4 Apr 2014 | 8:36 AM ET
CNBC.com
This is how the monthly jobs report is calculated
Friday, 4 Apr 2014 | 6:34 AM ET
If it's the first Friday of the month, it's a good bet it's a jobs Friday. CNBC's Steve Liesman explains how the employment report is compiled and why it's so closely-watched by the financial markets.
The U.S. Labor Department said Friday that the unemployment rate was6.7% in March—but does that rate tell the real story?
A number of economists look past the "main" unemployment rate to a different figure the Bureau of Labor Statistics calls "U-6," which it defines as "total unemployed, plus all marginally attached workers plus total employed part time for economic reasons, as a percent of all civilian labor force plus all marginally attached workers."
In other words, the unemployed, the underemployed and the discouraged — a rate that still remains high.
The U-6 rate rose in March to 12.7 percent. While it is down 110 basis points over the last year, the trend has been more volatile than in the main unemployment rate, which steadily declined.
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