Below is all of the unemployment U1 though U6
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In Economic Speak, the unemployment rate is a lagging indicator. Meaning when something does happen, this indicator lets us know how bad the event is.
The Federal Reserve does strive to keep the U3 unemployment rate between 3 – 6 percent.
U1 -U6 are for the most part flat. U1 and U2 does show a downward trend. U3 is flat. U5 and U6 is showing an upward trend.
What this tells me is according to the BLS if you lose your job at this moment, you do have a good chance of getting a new if you react within well within a few months. U3 unemployment rate at this time is almost useless, meaning it is used for cheer leading and media propaganda. U5 and U6 are trending upwards and more people are getting stuck in long-term unemployment.
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