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US U6 unemployment rate 7.9% in October, versus 7.6% expected and 7.6% prior.
Business & markets1 min read
The U.S. U6 unemployment rate increased to 7.9% in October, surpassing expectations and remaining above the previous month's figure. The rate is a broader measure of labor underutilization.
What was reported
U6 unemployment rate reached 7.9% in October.
Analysts had forecasted a rate of 7.6%.
The prior month's U6 rate was also 7.6%.
Why it matters
The U6 unemployment rate includes not only those who are unemployed but also those who are underemployed or discouraged from seeking work. An increase in this rate may indicate strain in the labor market.
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Source & attribution
This article is presented by DailyMIQ. General educational context is DailyMIQ commentary.
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