Introducing Regional Underemployment

The unemployment rate in the United States is at historically low levels, coming in at 3.9% for July 2018, with many observers suggesting the nation is now at full employment. Despite the low unemployment rate, some questions remain about the state of the workforce. For example, one question is “how is the employment being utilized?” Or to put it another way, just because people have jobs right now, does that mean they have good jobs? One way to measure employment utilization is to look at the underemployment rate.