U6 Unemployment Rate (Dec) 7.1% Vs 7.0% Prior
Portfolio Pulse from Benzinga Newsdesk
The U6 unemployment rate in December was reported at 7.1%, slightly higher than the previous month's rate of 7.0%.
January 05, 2024 | 1:30 pm
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The slight increase in the U6 unemployment rate may cause concern among investors about economic growth, potentially impacting SPY.
The U6 rate is a broad measure of unemployment, including those who are underemployed and marginally attached to the labor force. A rise in this rate can be seen as a negative indicator of economic health, which may lead to reduced investor confidence and potentially lower stock prices for broad market ETFs like SPY in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70