US Unemployment Rate: 7.6%

January’s Unemployment rate increased to 7.6% from 7.2% in December, according to the Bureau of Labor Statistics (BLS). As with all statistics released, we encourage you to go beyond the economic calendar of your choice and read the source material. Here, you will find additional details, and information on how the source came to their conclusions. Statistics can often be misleading afterall.

The official unemployment rate is known as the U-3 measure of unemployment. It is based on the total unemployed, as a percent of the civilian labor force. The U-3 does not include discouraged workers, other marginally attached workers, and involuntary part time workers.

A more comprehensive measure of unemployment is the U-6, also released by the BLS. January’s U-6 unemployment rate increased to 13.9% from 13.5% in December. It is based on the total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers. Definitions of the terms and other alternate measures of unemployment can be found here: http://www.bls.gov/news.release/empsit.t12.htm