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In: Economics

How would you improve upon the way the Bureau of Labor Statistics computes the unemployment rate?

How would you improve upon the way the Bureau of Labor Statistics computes the unemployment rate?

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Expert Solution

Unemployment, also called joblessness, occurs when people are without work and are actively seeking employment.The unemployment rate is the percentage of unemployment calculated by dividing the number of unemployed individuals by the number of individuals currently employed in the labor force.

unemployment rate is that it doesn't consider the quality of jobs that workers have. People are considered employed if they have part-time or temporary jobs. They're also counted as being employed if they have low-skilled jobs

Rahul Sunny answered 2 years ago
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