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At 4.7 percent unemployment, is San Diego County truly at full employment?


Friday, March 25, 2016

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Kelly Cunningham, National University System

Answer: NO

The commonly reported U-3 measurement of unemployment does not portray the full extent of labor underutilization. To be counted, one must be actively seeking work, otherwise the person is excluded as being unemployed. On the other hand, those working as little as one hour per week although wanting to work full-time are counted as employed. An estimate for San Diego’s total labor underutilization (U-6) rate is currently near 11.5 percent, far from full employment.