The trend since 2019.
The latest available read: U-6 Underemployment Rate is at 7.7% as of August 2026. Source: FRED · U6RATE.
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 feeds the Jobs & Labor view — one of the six areas behind the site's Macro IQ score.