Unemployment rate has only been a part of the factor, and the U3 number is a VERY VERY bad indicator or economic health which is the number the news reports U6

Unemployment rate has only been a part of the factor, and the U3 number is a VERY VERY bad indicator or economic health which is the number the news reports U6 is much more comprehensive but even it has its limits, you have to contrast it with Workforce Participation numbers which is still at a Decade low number though it on on the rise 2009 (peak of economic rescission and unemployment BTW): 65.7% of people where in the workforce 2018: 62.7% of people where in the workforce U6 Unemployment sits at almost 7.3% where U3 is 3.8%