Unemployment Rate In America

Introduction:

Bureau of Labor Statistics measures employment and unemployment (of those over 16 years) using two different labor force surveys conducted by the U.S. Census Bureau and the Bureau of Labor Statistics that put combined employment statistics monthly. Current Population Survey (CPS), or "Household Survey", conducts a survey on a sample of 60,000 households. This survey estimates the unemployment rate, based on the ILO definition. These are also used to calculate the five alternative measures of unemployment as a percentage of the workforce, based on different definitions noted as U1(unemployment 1) through U6 (unemployment 6):

Discussion

Below is an overview ...