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The Unemployment rate came in at 3.5% but as you know, the way that it is measured changed in 2008. The U.S. Bureau of Labor Statistics does still measure the U6, what they refer to as the unemployment rate the way that they measured it in 2008 and before. Here below is a look at that historical measurement for the last 20 years or so for an Apples-to-Apples view…

Here is a look at the July U-6 (The way of measuring unemployment prior to 2008) numbers for the previous 19 years:

July 2022 6.7%

July 2021 9.2%

July 2020 16.5%

July 2019 6.9%

July 2018 7.5%

July 2017 8.5%

July 2016 9.7%

July 2015 10.4%

July 2014 12.2%

July 2013 13.9%

July 2012 14.9%

July 2011 16.1%

July 2010 16.5%

July 2009 16.4%

July 2008 10.4%

July 2007 8.3%

July 2006 8.5%

July 2005 8.9%

July 2004 9.5%

July 2003 10.3%

The U-6 BLS unemployment rate measured the old way (2008 and before and still measured today.) counts not only people without work seeking full-time employment (the more familiar U-3 rate), but also counts “marginally attached workers and those working part-time for economic reasons.” Note that some of these part-time workers counted as employed by U-3 could be working as little as an hour a week. And the “marginally attached workers” include those who have gotten discouraged and stopped looking, but still want to work.

Joe Pelayo, C.P.C.
Managing Partner
Joseph Michaels International Recruiters
Global Recruiting Solutions

Since 1990.




“Whatever you do, work at it with all your heart”

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