The official unemployment rate is 5.8%. However, if you start counting all the people who want a job but gave up, all the people with part-time jobs that want a full-time job, all the people who dropped off the unemployment rolls because their unemployment benefits ran out, etc., you get a closer picture of what the unemployment rate is. That number is in the last row labeled U-6.

U-6 is much higher at 11.4%. Both numbers would be way higher still, were it not for millions dropping out of the labor force over the past few years.

via Everything You Should Know About the Jobs Numbers – Mike Shedlock – Townhall Finance Conservative Columnists and Financial Commentary – Page 1.