Historical Year Data · 2023
Underemployment Rate (U6) in 2023
Underemployment Rate (U6) opened 2023 at 6.70% and closed at 7.20%, a +7.46% move for the year. The high of 7.20% was reached on October 1, and the low of 6.60% on April 1.
Open
6.70%
2023-01
Close
7.20%
12 data points
High
7.20%
Oct 1
Low
6.60%
Apr 1
Full Year Change
+7.46%
2022 Change
-7.04%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 6.70% | 6.70% | 6.70% | 6.70% | +0.00% |
| Feb | 6.80% | 6.80% | 6.80% | 6.80% | +0.00% |
| Mar | 6.70% | 6.70% | 6.70% | 6.70% | +0.00% |
| Apr | 6.60% | 6.60% | 6.60% | 6.60% | +0.00% |
| May | 6.70% | 6.70% | 6.70% | 6.70% | +0.00% |
| Jun | 6.90% | 6.90% | 6.90% | 6.90% | +0.00% |
| Jul | 6.70% | 6.70% | 6.70% | 6.70% | +0.00% |
| Aug | 7.10% | 7.10% | 7.10% | 7.10% | +0.00% |
| Sep | 7.00% | 7.00% | 7.00% | 7.00% | +0.00% |
| Oct | 7.20% | 7.20% | 7.20% | 7.20% | +0.00% |
| Nov | 7.00% | 7.00% | 7.00% | 7.00% | +0.00% |
| Dec | 7.20% | 7.20% | 7.20% | 7.20% | +0.00% |
Events During 2023
2023 Silicon Valley Bank Collapse
Mixed
March 2023
Silicon Valley Bank collapsed on March 10, 2023, the second-largest bank failure in US history. The Fed's response redefined liquidity backstops for the banking system.
2023 Credit Suisse Forced Merger
Mixed
March 15-19, 2023
Credit Suisse was forced into an emergency acquisition by UBS over the weekend of March 18-19, 2023. The deal wiped out AT1 bondholders while preserving some equity, reshaping bank capital structure risk assessment globally.
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