This is the U-3 rate, seasonally adjusted. The seasonally adjusted U-6 rate, which I think is a truer indication of the unemployment/underemployment rate, is 15.6%. For example, if you have a Ph. D in something and, because there are no jobs in your field, you took a part-time job in a car wash, the U-3 rate ignores you. The U-6 rate counts you.Keep in mind that the unemployment rate is a lagging indicator.
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