U3

U3 is a way the U.S. government measures how many people are unemployed and actively looking for work. It counts those who are jobless, available to work, and have recently searched for a job. This measure is common and widely used because it provides a snapshot of the health of the job market. However, it doesn't include people who are not seeking work, such as those who have given up or are underemployed. So, U3 gives a focused view of the unemployment situation among actively job-seeking individuals.