NEW YORK | The Corner Team | The U.S. has a 7.3% unemployment rate but its underemployment is estimated to be of at least 5%. “Underemployed” are those citizens employed part time, but want to work full time, or jobless. This adds to the Federal Reserve’s caution in deciding when to trim its monthly bond purchases. In the video (via The Next New Deal), Roosevelt Institute Senior Fellow and Director of the Bernard L. Schwartz Rediscovering Government Initiative Jeff Madrick explains three steps the government could take to address the jobs emergency.