Underemployment, as measured without seasonal adjustment, was 18.6% in January, up from 17.2% in December, and up from 17.5% in January 2013. Gallup’s U.S. underemployment rate combines the percentage of adults in the workforce who are unemployed (8.6%) with the percentage of those who are working part time but looking for full-time work (10.0%). An increase in unemployment mainly explains the increase in underemployment vs. December, partly attributable to more out-of-work Americans now reporting they are looking for work.
Read it all and please note that U-6 happily fell from 13.1% to 12.7% in the BLS report on Friday