FX.co ★ US U6 Underemployment Rate Edges Down to 8.1% in May 2026

The broad U6 measure of labor underutilization in the United States ticked down to 8.1% in May 2026, from 8.2% in April, according to data updated on 5 June 2026. The indicator, which captures not only unemployed workers but also marginally attached workers and those employed part-time for economic reasons, points to a modest improvement in overall labor market conditions.

While the decline of 0.1 percentage point is incremental, it suggests that some slack in the labor market may be easing, with fewer people facing underemployment or tenuous attachment to the workforce. Investors and policymakers often look to the U6 rate as a complementary gauge to the headline unemployment figure, as it offers a broader view of labor market health and hidden weakness in employment dynamics.

The May reading will likely feed into ongoing assessments of consumer strength, wage pressures, and the trajectory of economic growth, as markets monitor whether this gradual improvement in underemployment can be sustained in the coming months.