Real Unemployment Rate 14.6 Percent in October

November 2, 2012 - 8:47 AM

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A protester in Muskegon, Michigan last December. (Greg Lindstrom/The Muskegon Chronicle/AP Photo)

(CNSNews.com) - The so-called real unemployment rate fell slightly in October, going from 14.7 percent to 14.6 percent, according to a report from the Bureau of Labor Statistics Friday.

This rate is a more comprehensive picture of those who are unemployed or underemployed.

Known as the U-6 rate, this measure combines those traditionally counted as unemployed, those counted as underemployed – holding part-time jobs for economic reasons, and those marginally attached to the labor force.

It is considered a more comprehensive measure of the employment pictures because it includes those two additional figures along with the traditional unemployment rate – giving a more thorough look at the impact of the economy on employment.

The U-6 rate was unchanged from August to September at 14.7 percent, after falling from as high as 15 percent in July. However, the rate has been little changed all year, hovering in a range between 15.1 to 14.5 percent. 

The Labor Department, in its final jobs report before the election, said the nation's unemployment rate went up a tenth of a point in October to 7.9 percent, as U.S. employers added 171,000 jobs.