Larger share of workers struggling than headline jobless figures suggest

WASHINGTON, June 18, 2026 /PRNewswire/ — While the official unemployment rate was unchanged in May, “functional unemployment” edged higher for a second consecutive month, according to the Ludwig Institute for Shared Economic Prosperity (LISEP).

LISEP’s May True Rate of Unemployment—a measure of the “functionally unemployed,” defined as the jobless, the involuntarily part-time, and those earning a poverty wage—increased 0.5 percentage points, from 24.1% to 24.6%. While the increase marked the second consecutive monthly uptick, broader trends suggest stabilization relative to the higher levels recorded late last year: the TRU three-month moving average remained at 24.1% for the third straight month, down from 24.9% in September and 24.4% a year ago. Among prime-age workers (25-54), the May TRU improved by 0.5 percentage points to 17.2%, with a three-month average of 17.3%.

By comparison, the official Bureau of Labor Statistics unemployment rate remained steady at 4.3%. LISEP noted that the TRU captures forms of labor-market hardship not reflected in the headline jobless rate, including elevated levels of involuntary part-time employment.

“It is certainly encouraging to see improvements year over year,” said LISEP Chair Gene Ludwig. “Even so, the latest data remind us that many workers are still struggling to secure full-time jobs that provide economic stability. For households living paycheck to paycheck, those challenges remain very real.”

By demographic categories, the May TRU for White workers rose 1.3 percentage points to 23.1%, with a three-month average of 22.4%—a full percentage point lower than a year ago. The rate for Hispanic workers increased 1.2 percentage points for the month to 28.9%, with a three-month average of 27.9%, similar to the 28.1% from last May. The TRU for Black workers improved by 2.2 percentage points and now stands at 27.1%, partially reversing last month’s 3.6 percentage point jump. Compared to last year, functional unemployment has worsened for Black workers, with a current three-month average of 27.4%, versus 26.6% in May of last year.

Meanwhile, the TRU for men increased by 1.5 percentage points to 20.8%, while the TRU for women remained relatively stable, decreasing 0.1 percentage points, to 28.8%. Over the past three months the men’s TRU averaged 19.6%, while the TRU for women has averaged 29%.

“We remain hopeful that the positive employment trends we are seeing can be sustained while recent fluctuations in functional unemployment stabilize—an important goal as many American families continue to struggle with the cost of everyday necessities,” Ludwig said. “Policymakers need to focus not just on creating jobs but on expanding access to stable, full-time jobs that pay a living wage. Employment growth is important, but so is the quality of the jobs being created.”

About TRU
LISEP issued the white paper “Measuring Better: Development of ‘True Rate of Unemployment’ Data as the Basis for Social and Economic Policy” upon announcing the new statistical measure in October 2020. The paper and methodology can be viewed here. LISEP issues the TRU one to two weeks following the release of the BLS unemployment report, which occurs on the first Friday of each month. The most recent TRU and supporting data are available on the LISEP website at https://www.lisep.org/tru.

About LISEP
The Ludwig Institute for Shared Economic Prosperity (LISEP) was created in 2019 by Ludwig and his wife, Dr. Carol Ludwig. The mission of LISEP is to improve the economic well-being of middle- and lower-income Americans through research and education. LISEP’s original economic research includes new indicators for unemployment, earnings, and cost of living. These metrics aim to provide policymakers and the public with a more transparent view of the economic situation of all Americans, particularly low- and middle-income households, compared with misleading headline statistics. On X: @LISEP_org.

About Gene Ludwig
In addition to his role as LISEP chair, Gene Ludwig is a managing partner of Canapi LLC, a financial technology venture fund. He is the founder and CEO of Ludwig Advisors, which counsels financial firms on critical matters. Ludwig is also the founder of the Promontory family of companies. He is the former vice chairman and senior control officer of Bankers Trust New York Corp. and served as the U.S. Comptroller of the Currency from 1993 to 1998. He is also author of the book The Vanishing American Dream, which investigates the economic challenges facing low- and middle-income Americans. His new book, The Mismeasurement of America, was published September 2025 and is now available online or wherever books are sold. On X: @geneludwig.

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SOURCE Ludwig Institute for Shared Economic Prosperity

National nonprofit kicks off Nashville expansion with founding partners AllianceBernstein, Barge Design Solutions, Gresham Smith, and Smith Seckman Reid, and is actively recruiting additional companies for internship seats

NASHVILLE, Tenn., June 18, 2026 /PRNewswire/ — Genesys Works, a national nonprofit that creates pathways to career success for high school students in underserved communities, today announced its inaugural corporate partners in Nashville: AllianceBernstein, Barge Design Solutions, Gresham Smith, and Smith Seckman Reid, Inc. (SSR). The four founding partners span the financial services and the architecture, engineering, and construction (AEC) sectors, which are facing talent shortages and an urgent need to introduce young people to these career pathways earlier.

Together, these companies will host Genesys Works Nashville’s first cohort of interns — high school seniors who will begin paid, yearlong internships in August 2026 after completing eight weeks of technical and professional skills training this summer.

The organization is actively recruiting additional Nashville-area employers to reach its goal of placing 25 students in paid internships during the 2026–2027 school year. Companies interested in joining the inaugural class can host interns in entry-level roles across IT, operations, HR, marketing, and finance, with Genesys Works serving as the employer of record and handling logistics, training, and ongoing support.

“Nashville’s employer community has shown up in a big way for our first cohort, and these founding partners are setting the standard for what’s possible when companies invest in local talent,” said Dr. Darren Kennedy, Executive Director of Genesys Works Nashville. “We’re inviting more companies to join us and benefit from our interns’ valuable contributions to their teams, doing real work that has real impact.”

“At AllianceBernstein, we believe deeply in the value of investing in our local, emerging talent,” said Karl Sprules, Chief Operating Officer at AllianceBernstein. “Partnerships like this help individuals uncover their strengths and accelerate their career paths, while enabling employers to build stronger talent pipelines. This ultimately strengthens Nashville’s workforce – both now and in the future.”

“Investing in career awareness and workforce development is vital for our communities,” said Carrie Stokes, PE, CEO and President at Barge Design Solutions. “The AEC industry plays a critical role in shaping the places where people live, work, and connect, and we need the next generation to understand both the opportunity and responsibility that comes with that work. Our partnership with Genesys Works allows us to engage students early to build understanding, interest, and a stronger pipeline of future professionals.”

“For many young people it’s not a matter of ability or desire, but they just need to be exposed to what exciting career opportunities are available,” said Rodney Chester, CEO and Board Chair at Gresham Smith. “At Gresham Smith, we believe investing in the communities where we work and live includes investing in future professionals while they are still in high school. There is a growing need for more architects and engineers in our industry, and one way to help close that gap is by introducing students to these career paths earlier. Creating healthy, thriving communities starts with creating meaningful opportunities for the people within them.”

Susan Osterberg, CEO and President of Smith Seckman Reid, said the partnership advances both the firm’s talent strategy and its broader commitment to the profession. “We’re excited to partner with Genesys Works because it allows us to introduce students to the design and engineering profession at an early and influential stage. By welcoming Genesys Works students into SSR, we’re helping them build technical, professional, and critical-thinking skills while also demystifying what a career in design and engineering can look like. The industry faces ongoing challenges related to workforce readiness and future capacity, and early exposure is key.”

Genesys Works has served more than 14,000 young professionals across eight cities. High school students earn their internships by completing 160 hours of technical and professional skills training, then work 20 hours per week throughout their senior year, providing employers with reliable, yearlong talent and continuity that traditional summer internships cannot match. As the employer of record, Genesys Works manages the internship program from end to end, including student training, recruitment and screening, onboarding, payroll administration, supervisor training, and ongoing coaching for interns and supervisors, helping employers build talent pipelines while reducing the administrative burden of managing an internship program.

How to get involved

Genesys Works Nashville is recruiting employer partners now to host interns beginning in August 2026. Companies interested in participating in the inaugural class can contact nashville@genesysworks.org or visit genesysworks.org/locations/nashville.

About Genesys Works

Genesys Works provides pathways to career success for high school students in underserved communities. Our program consists of 8 weeks of technical and professional skills training, paid year-long corporate internships, college and career coaching, and long-term alumni support to move individuals out of economic inequality and into professional careers. Founded in 2002, Genesys Works now serves thousands of students annually in Chicago, Houston, Jacksonville, Minneapolis/St. Paul, Nashville, New York City, the San Francisco Bay Area, Tulsa, and Washington’s National Capital Region. To learn more, visit genesysworks.org.

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SOURCE Genesys Works

DENVER, June 18, 2026 /PRNewswire/ — Moeris, a national roadway safety and traffic control organization, today announced the acquisition of Stay Safe Traffic Control, a leading provider of work zone safety and traffic control services based in Raleigh, North Carolina.

The acquisition expands Moeris’ growing national platform in the Southeast region and reflects the company’s long-term strategy of disciplined geographic growth and operational optimization.

“Our goal is to build the nation’s leading traffic control and work zone safety platform through thoughtful expansion and an unwavering commitment to excellence,” said Tom Harper, CEO of Moeris. “Stay Safe Traffic Control has earned a strong reputation for safety, quality and reliability. This is a relationship-driven business, and we support local companies with shared resources, safety systems and operational expertise while preserving the brands and leadership teams that define their markets.”

Stay Safe Traffic Control selected Moeris as a partner to ensure continuity for employees and customers while positioning the business for continued growth. The partnership reflects a shared commitment to employee care, high safety standards and building on the company’s strong foundation.

Stay Safe Traffic Control will retain its name, locations, team and operating structure, and day-to-day operations will continue as usual. The company becomes the fourth operating business under the Moeris umbrella, joining Colorado Barricade, Pavement Surface Control and Richmond Traffic Control, which serve customers across the Rocky Mountain region, Pacific Northwest, Mid-Atlantic, and Southeast.

“We’ve built a reputation for delivering high-quality traffic control solutions with integrity,” said David Chamblee, owner of Stay Safe Traffic Control. “Partnering with Moeris gives us additional resources to invest in our people, expand our capabilities and continue serving our customers at the highest level, without changing who we are.”

“We are proud of the company we’ve built and the people who make it successful,” added David Chamblee. “Moeris shares our values around safety, service and caring for employees. This partnership positions Stay Safe Traffic Control for long-term growth while staying true to the culture and relationships that define our business.”

Founded in 2016, Stay Safe Traffic Control is a full-service provider of work zone traffic control products and services with locations in Garner and Angier, North Carolina. Its employees are ATSSA- and/or DOT-certified in work zone traffic control. For more information, visit staysafetrafficcontrol.com.

Moeris is a roadway safety and traffic control organization dedicated to protecting drivers, workers and communities during construction. Through its family of local operating companies, Moeris provides traffic control, barrier systems, pavement marking and sign installation services across infrastructure and heavy civil markets, while preserving local leadership and identity. For more information, visit moerisusa.com.

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SOURCE Moeris