Time for some definitions on unemployment statistics. The RED part of the graph is the U3 ?standard? (useful when comparing countries; ie comparing USA to Germany). The GREEN part of the graph is the U6 (see definitions below). The BLUE part of that graph, who knows ? completely made up statistic by someone not in the Burea of Labor Statistics (BLS).
I don?t know about you, but if people (willfully) are not looking for work ? why would you want to count them? But if you do, the BLS gives you those numbers as well.
U3: Official unemployment rate per the ILO definition occurs when people are without jobs and they have actively looked for work within the past four weeks.
U4: U3 + ?discouraged workers?, or those who have stopped looking for work because current economic conditions make them believe that no work is available for them.
U5: U4 + other ?marginally attached workers?, or ?loosely attached workers?, or those who ?would like? and are able to work, but have not looked for work recently.
U6: U5 + Part-time workers who want to work full-time, but cannot due to economic reasons (underemployment).
Source: http://allfinancialmatters.com/2012/10/11/chart-of-the-day-the-real-unemployement-rate/
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