[Brilliant]

I wonder what that measure of unemployment would have been in 1975?

[expat_panama]

I wonder what that measure of unemployment would have been in 1975?

Every time U6 (non-job seekers) is measured, it always ends up at 7/4^ths times the official U3 rate.  This puts mid 1975 U6 at 15.8% and 1982 at 18.9%.  That means our current slump isn't as bad as those ones.