US Bureau Of Labor Statistic Case Study

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Every month the US Bureau of Labor Statistic (BLS) announces the value of unemployment rate for the previous month. The rate is a key measurement of how the economy is doing, the announcement is widely watched and if the unemployment rate is different from what the financial market expects, there will be large movement in those markets. Therefore, it is important to know how the Bureau of Labor Statistic works with the unemployment rate.
Measuring Unemployment

There are data of unemployment rates released each month by the BLS, it is based on a survey of 60,000 households. Each household is given a series of questions concerning the work activity in the house hold of member 16 and older in the household. If the person in the house has
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The BLS survey provides some evidence on the size of the discouraged workers effect. Respondents indicate that they have stopped searching for a job are asked why and if the respondents states an inability to find a job as a sole reason they are probably considered discouraged worker. The number of discouraged workers hover around one percent of the labor force in regular times. In March of last year they number of discouraged workers where only about 0.5 percent of the labor …show more content…
economy, prices of individual goods continually change as supply and demand shift. Indeed a major concern for macroeconomics understanding the way in which relative price change, for example, having to computers become less expensive over time and dental services more expensive. In macroeconomic they are not concerned with relative price changes, but with change in the overall price level of goods and services. Inflation is defined as an increased in the overall price level, whereas deflation is a decrease in the overall price level. When all the prices of multitude goods and services in our economy don’t rise or fall together, the rate makes measurements of inflation

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