The U.S. unemployment rate is currently 4.4%, nearly its lowest point in a decade. While the unemployment rate reflects the millions of Americans who are out of work and actively seeking employment, the measure does not fully capture the degree to which Americans are unable to find the jobs they want.
In addition to those seven million Americans captured by the traditional unemployment rate, there are millions more who are working part-time jobs because they could not find full-time employment, as well a large share of workers who have recently given up on their job search altogether and are now marginally attached to the workforce.
> Underemployment rate: 10.3%
> June unemployment rate: 4.1% (tied — 24th highest)
> Average wage: $47,024 (23rd lowest)
> Labor force growth: 2.3% (6th largest increase)
In Florida, 10.3% of the workforce are underemployed, more than the 9.5% national rate. Labor utilization in Florida has somewhat improved from one year ago, when 11.0% of the workforce were underemployed.
A large share of the state’s labor force remains underemployed despite substantial economic growth in the state in recent years. Florida’s GDP rose 3.0% in 2016, double the 1.5% national rate and more than any state other than Oregon and Washington.
The underemployment rate — a combination of unemployed job seekers, discouraged and other marginally attached workers, and people settling for part-time jobs as a share of the labor force — is a more comprehensive measure of labor underutilization, and this measure varies considerably across the country.
To determine the easiest and hardest states to find full-time work, 24/7 Wall St. reviewed underemployment rates in all 50 states with data from the Bureau of Labor Statistics. The underemployment rate ranges from below 7% in some states to over 11% in others.