The official unemployment rate (U3) used by the U.S. Bureau of Labor Statistics (BLS) is not based on the number of people collecting unemployment benefits. It is based on a monthly national survey of 60,000 households.
U3 includes individuals who do not have a job, have actively looked for a job in the last four weeks, and are currently available for work. It does not include those who want a job but are discouraged and not actively looking for work or those who have accepted part time work, but want a full time job. The official U3 unemployment rate for Wisconsin for March was 6.8 percent.
What was the broader Wisconsin unemployment rate (U6) for March when discouraged workers and those working part time because they cannot find full time work are included?
C. 13.8 percent
According to the Bureau of Labor Statistics, the official unemployment rate (U3) only includes those people who do not have a job, have actively looked for a job in the last four weeks, and are currently available for work. The broader U6 includes discouraged workers and those people working part time because the can’t find full time work.