The Bureau of Labor Statistics (BLS) has reported that real unemployment is 18%. This percentage includes other forms of unemployment that are not typically included in the regular unemployment statistics. The descriptions of the various types of unemployed workers are as follows:
U-3 is the 'official' unemployment rate and illustrates total unemployed persons as a percentage of the civilian labor force.
U-4 is another category that includes unemployed workers plus discouraged workers. A discouraged worker is someone who's available to work but has stopped actively seeking for work.
U-5 unemployment includes the number of unemployed workers, plus discouraged workers, plus marginally attached workers. A marginally attached worker is someone who is able and willing to work but is not actively seeking work.
U-6 is as close to the real unemployment figure as government reporting gets. This number includes unemployed workers, plus discouraged workers, plus marginally attached workers, plus workers that are forced to work part-time because they are not able to find a full-time job. Put another way, it's the most realistic picture of today's job market as any.
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