Underemployment number unchanged after eight months
The Bureau of Labor Statistics Friday revealed underemploment has remained the same since February and that the number is virtually unchanged from last year.
The U-6 unemployment rate, which measures underemployment by looking at workers who have been forced into part-time work or who are only sporadically looking for work in addition to those who can’t find jobs, was 9.7 percent in September, the same as in February and down only slightly from 10 percent in September of last year.
Prior to the past year, underemployment had steadily declined since exploding during the financial crisis.
In the previous five Septembers, dating to when the jobs recovery began, the underemployment rate fell by an average of 1.36 percentage points each year, down from nearly 17 percent of the labor force.
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