Long-Term Unemployed Rises, Real Unemployment Basically Unchanged
March 8, 2013 - 9:32 AM
The number of Americans out of work for more than 27 weeks rose in February by 89,000, going from 4.7 million to 4.8 million, BLS reported Friday.
The broader U6 unemployment rate, called the real unemployment rate by some because it provides a fuller measure of the jobless picture, remained largely unchanged in February, falling slightly from 14.4 percent to 14.3.
The U6 rate measures those BLS counts as unemployed, those marginally attached to the workforce, and those employed part-time for economic reasons – giving a much broader picture of the jobless situation in America by capturing both the underemployed and those who are unemployed but who haven’t looked for a job in some time but still want to be employed – the marginally attached.
BLS said that the overall economy added an estimated 236,000 jobs in February and that the national unemployment rate fell from 7.9 percent to 7.7 percent.