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True Rate of Unemployment

The percentage of the U.S. labor force that is functionally unemployed

True
Rate of Unemployment
23.3
%
January 2024
Headline
Rate of Unemployment
3.7
%
January 2024
vs.
Using data compiled by the federal government’s Bureau of Labor Statistics, the True Rate of Unemployment tracks the percentage of the U.S. labor force that does not have a full-time job (35+ hours a week) but wants one, has no job, or does not earn a living wage, conservatively pegged at $25,000 annually before taxes.
Just as an accurate census is a prerequisite to funding American communities equitably, policymakers depend on economic indicators to shape economic policy. LISEP developed the True Rate of Unemployment to provide analysts and decision-makers with a more accurate measure of Americans’ financial well-being.
True
Rate of Unemployment
The True Rate of Unemployment (TRU), as defined by LISEP, measures the percentage of the U.S. labor force that is functionally unemployed.
True Rate of Unemployment
vs. Headline Rate of Unemployment
23.3
%
True Rate
3.7
%
Headline Rate
Select any point on the chart to see the True Rate of Unemployment for that month.
True Rate of Unemployment
By Race
26.2%
Black
27.8%
Hispanic
21.7%
White
Select any point on the chart to see the True Rate of Unemployment for that month.
True Rate of Unemployment
By Sex
28.0%
Female
19.2%
Male
Select any point on the chart to see the True Rate of Unemployment for that month.
True Rate of Unemployment
By Education
Select any point on the chart to see the True Rate of Unemployment for that month.
49.7%
No High School
27.2%
High School Diploma
26.3%
Some College
14.7%
Bachelors Degree
12.4%
Advanced Degree
Select any point on the chart to see the True Rate of Unemployment for that month.