The trend over time.
The latest available read: U-6 Underemployment Rate is at 7.6% as of September 2026. Source: FRED · U6RATE. CSV and PNG downloads cover the selected date range.
What U-6 Underemployment Rate measures.
The BLS broadest measure of labor underutilization: the unemployed, people marginally attached to the labor force, and people working part-time who want full-time work, as a share of the labor force plus the marginally attached.
U-6 runs several points above the headline unemployment rate. The gap between the two widens when more people are stuck in part-time work, which can show slack that the headline rate misses.
Why it matters.
A declining U-6 suggests more people are finding adequate work, which typically supports wage growth and consumer spending. If this trend holds, it could ease pressure on the Federal Reserve to cut rates further, affecting mortgage rates and borrowing costs for your household.
Where it fits.
U-6 Underemployment Rate is covered on the Jobs & Labor page.