BLS is an independent national statistical agency that
collects, processes, analyzes, and disseminates essential statistical data for the public, Congress, other federal agencies
, state and local governments, business, and labor. BLS also serves as a statistical resource for the U.S. Department of Labor.
What does the Bureau of Labor Statistics calculate?
The U.S. Bureau of Labor Statistics
measures employment and unemployment for individuals over the age of 16
. The unemployment rate is measured using two different labor force surveys. The Current Population Survey (CPS): also known as the “household survey” the CPS is conducted based on a sample of 60,000 households.
What does the Bureau of Labor Statistics do?
BLS is an independent national statistical agency that
collects, processes, analyzes, and disseminates essential statistical data for the public, Congress, other federal agencies
, state and local governments, business, and labor. BLS also serves as a statistical resource for the U.S. Department of Labor.
Is the U.S. Bureau of Labor Statistics a credible source?
The U.S. Bureau of Labor Statistics collects, analyzes, and
publishes reliable information on many aspects of our economy and society
. … Accurate and timely – We provide accurate information that reflects the current state of our economy.
What does the Bureau of Labor Statistics do quizlet?
The Bureau of Labor Statistics
measures unemployment by
: Surveying households. The Bureau of Labor Statistics surveys households to determine whether the interviewees are: Employed, unemployed or not in the labor force.
Which medical career does it predict to be the highest in demand?
Among the fastest-growing health care occupations are
physician assistants
, nurse practitioners (52 percent job growth rate is predicted from 2019 to 2029; the quickest in the field) and occupational therapy assistants.
Who is excluded from the labor force?
Persons who
are neither employed nor unemployed
are not in the labor force. This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work.
What criticisms exist about the way the unemployment rate is calculated?
The unemployment rate as it is measured officially is often
criticized for understating the level of joblessness
because it excludes anyone working at all or people who aren't looking for work. In particular, the official unemployment rate leaves out discouraged workers and the underemployed.
How does the Bureau of Labor Statistics determine the unemployment rate?
In general, the unemployment rate in the United States is
obtained by dividing the number of unemployed persons by the number of persons in the labor force (employed or unemployed) and multiplying that figure by 100
.
How is labor force calculated?
- Unemployment is an important issue addressed in the study of macroeconomics. …
- The labor force is defined simply as the people who are willing and able to work. …
- Labor Force = Number of Employed + Number of Unemployed.
How reliable is Bureau of Labor Statistics?
The statistical reliability of the BLS wage data is
adequate for most metropolitan and non-metropolitan areas
(at least 90 percent of areas). For a small proportion of areas, the BLS data are not as reliable.
How is being unemployed different from not being in the labor force?
The basic concepts involved in identifying the employed and unemployed are quite simple: … People who are jobless, looking for a job, and available for work are unemployed. The labor force is made up of the employed and the unemployed.
People who are neither employed nor unemployed are not
in the labor force.
Is Bureau of Labor Statistics survey mandatory?
Nearly all of our surveys are
voluntary
, which means the individuals, households, and organizations selected for our survey samples can choose whether to participate.
How does the Bureau of Labor Statistics determine the unemployment rate quizlet?
Which of the following formulas does the Bureau of Labor Statistics use to calculate the Unemployment rate? …
The household survey interviews households and measures
the unemployment rate whereas the establishment survey interviews business and measures the employment rate.
How does the Bureau of Labor Statistics calculate the unemployment rate quizlet?
The official unemployment rate as calculated by the U.S. Bureau of Labor would equal: The official unemployment rate
=100 × (# of unemployed /LF) = (20/100) × 100.
Who is not in the labor force as defined by the Bureau of Labor Statistics quizlet?
The labor force is defined as all members of the population who are over 16 years old and who are either employed or unemployed. Unemployed persons are those who are actively looking for a job or who are between jobs.
Persons who are not looking for a job
are not part of the labor force.
