Using the most recent data from the Bureau of Labor Statistics website, calculate the unemployment rate and the labor force participation rate.

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Kritika KrishnakumarLv10

28 Sep 2019

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What are the three categories into which the Bureau of Labor Statistics divides everyone? How does the BLS compute the labor force, unemployment rate and the labor force participation rate?

pucedog162

2012	United States	Australia	Singapore	Malaysia
Unemployment rate inflation (%)	8.1	5.2	-	-
Labor force (thousands)	154,975	12,137	-	-
Labor force participation rate (%)	63.7	66.2	-	-
Inflation rate (%)	2.1	1.8	-	-

Source: U.S Bureau of Labor Statistics: International Labor Comparisons August 21, 2013

Analyze the data.

rubyjellyfish410

The Bureau of Labor Statistics reported that in April 2009, the total labor force was 154,731,000 of a possible 235,272,000 working-age adults. The total number unemployed was 13,724,000. From this information, calculate the following:

a) Labor force participation rate.

b) Unemployment rate.

c) Employment-population ratio.