Question

In: Statistics and Probability

When choosing a place to live, how is the Bureau of Labor Statistics beneficial ?

When choosing a place to live, how is the Bureau of Labor Statistics
beneficial ?

Solutions

Expert Solution

Department of Labor Statistics:-

  • The Bureau of Labor Statistics (BLS) is a unit of the United States Department of Labor.
  • It is the important actuality discovering office for the U.S. government in the expansive field of work financial aspects and insights and fills in as a vital organization of the U.S. Government Statistical System.
  • The BLS is a legislative measurable office that gathers, forms, breaks down, and scatters basic factual information to the American open, the U.S. Congress, other Federal offices, State and nearby governments, business, and work agents.
  • The BLS additionally fills in as a measurable asset to the United States Department of Labor, and leads investigation into how much families need to gain to have the capacity to appreciate a conventional standard of living.
  • The BLS information must fulfill various criteria, including pertinence to current social and monetary issues, opportuneness in mirroring the present quickly changing financial conditions, exactness and reliably high factual quality, unbiasedness in both topic and introduction, and openness to all.
  • To stay away from the presence of favoritism, the dates of significant information discharges are planned over a year ahead of time, in a joint effort with the Office of Management and Budget.

History:-

  • The Bureau of Labor was built up in the Department of the Interior by the Bureau of Labor Act (23 Stat. 60), June 27, 1884, to gather data about business and work.
  • It took after the hearings driven by Henry W. Blair of the Committee of the Senate upon the relations among Labor and Capital.Carroll D. Wright was the primary U.S. Magistrate of Labor.
  • It turned into a free (sub-Cabinet) division by the Department of Labor Act (25 Stat. 182), June 13, 1888.
  • It was consolidated, as the Bureau of Labor, into the Department of Commerce and Labor by the Department of Commerce Act (32 Stat. 827), February 14, 1903.
  • At long last, it was exchanged to the Department of Labor in 1913 where it lives today.
  • The BLS is presently headquartered in the Postal Square Building close to the United States Capitol and Union Station.
  • Since 1915, the BLS has distributed a diary, the Monthly Labor Review, with articles about the information and procedures of work measurements.
  • The BLS is going by an official who serves a four-year term from the date he or she takes office.
  • The latest Commissioner of Labor Statistics was Erica Groshen, who was affirmed by the U.S. Senate on January 2, 2013 and confirmed as the fourteenth Commissioner of Labor Statistics on January 29, 2013, for a term that finished on January 27, 2017.
  • William Malinowski, Deputy Commissioner of the BLS, is filling in as Acting Commissioner until the point when the following magistrate is confirmed. William Beach has been named for the position.

Factual revealing:-

Insights distributed by the BLS fall into four fundamental categories:

Costs:-

  • U.S. Shopper Price Index
  • Maker Price Index
  • U.S. Import and Export Price Indices
  • Shopper Expenditure Survey

Work and joblessness:-

  • Joblessness estimations by the BLS from 1950 to 2010
  • Current Population Survey (The "Family Survey")
  • The American Time Use Survey
  • Current Employment Statistics (The "Foundation Survey")
  • Finance Employment
  • Monetary geology

Compensation Data:-

  • Neighborhood Statistics (LAUS)
  • Rundown of U.S. states by joblessness rate
  • Current Employment Statistics State and Area program
  • The Job Openings and Labor Turnover Survey (JOLTS)
  • The Quarterly Census of Employment and Wages (QCEW)
  • The Business Employment Dynamics (BED) program
  • Multi year word related work projections
  • Word related Employment Statistics (OES)
  • Mass Layoff Statistics- - ended in 2013

Pay and working conditions:-

  • National Compensation Survey
  • Work Cost Index
  • Work environment Injury and Fatality Statistics

Profitability:-

  • Work profitability, total and by industry
  • Multifaceted profitability

Factual districts:-

Information delivered by the BLS is frequently ordered into gatherings of states known as Census Regions. There are 4 Census Regions, which are additionally classified by Census Division as takes after:

Upper east Region:-

  • New England Division: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
  • Center Atlantic Division: New Jersey, New York, and Pennsylvania.

South Region:-

  • South Atlantic Division: Delaware, District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and West Virginia.
  • East South Central Division: Alabama, Kentucky, Mississippi, and Tennessee.
  • West South Central Division: Arkansas, Louisiana, Oklahoma, and Texas.

Midwest Region:-

  • East North Central Division: Illinois, Indiana, Michigan, Ohio, and Wisconsin.
  • West North Central Division: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota.

West Region:-

  • Mountain Division: Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, and Wyoming.
  • Pacific Division: Alaska, California, Hawaii, Oregon, and Washington


Related Solutions

How does the Bureau of Labor and Statistics compute the labor force and the unemployment rate?...
How does the Bureau of Labor and Statistics compute the labor force and the unemployment rate? How does the current U.S. unemployment rate compare with unemployment rates in other developed countries and unemployment rates from U.S. history? Define the following causes of unemployment: frictional, structural, and cyclical. Which of these causes is more paramount during a severe recession? How might governments reduce the amount of: 1) frictional and 2) structural unemployment? Why do unemployment rates in European countries tend to...
1. (In one paragraph) Explain how the Bureau of Labor Statistics uses two parts of a...
1. (In one paragraph) Explain how the Bureau of Labor Statistics uses two parts of a fraction to compute the unemployment rate each month. Then describe how the concept of "Natural Unemployment" within a market economy means that the unemployment rate is always above zero (0.0%). And make sure to discuss whether (or not) you think that the United States economy is currently near the "Full Employment" level. 2. Summarize how Frictional Unemployment and Structural Unemployment are forms of Natural...
Write a short essay on how the Bureau of Labor Statistics (BLS) comes up with measures...
Write a short essay on how the Bureau of Labor Statistics (BLS) comes up with measures of labor force participation and unemployment for the US. As part of your answer, make sure that you discuss some of the causes of changes in both the labor force participation rate and also the unemployment rate over time.
1. What are the three categories into which the Bureau of Labor Statistics divides everyone? How...
1. What are the three categories into which the Bureau of Labor Statistics divides everyone? How does the BLS compute the labor force, the unemployment rate, and the labor-force participation rate? 2. Why is frictional unemployment inevitable? How might the government reduce the amount of frictional unemployment? 3. Are minimum-wage laws a better explanation for structural unemployment among teenagers or among college graduates? Why? 4. How do unions affect the natural rate of unemployment? 5. What claims do advocates of...
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?
Visit the Bureau of Labor Statistics website and identify the national unemployment rate. How do you...
Visit the Bureau of Labor Statistics website and identify the national unemployment rate. How do you interpret this rate? Next, read about the Unemployment Insurance in the chapter on Unemployment. Identify at least two changes to the Unemployment Insurance Policy that were instituted in March 2020 in response to the COVID-19 crisis. You can read more about the Unemployment policies here. What might be some of the short-term and long-term consequences of this change.
Visit the Bureau of Labor Statistics website and identify the national unemployment rate. How do you...
Visit the Bureau of Labor Statistics website and identify the national unemployment rate. How do you interpret this rate? Identify at least two changes to the Unemployment Insurance Policy that were instituted in March 2020 in response to the COVID-19 crisis. What might be some of the short-term and long-term consequences of this change?
The survey by The Bureau of Labor Statistics American Time, showed that the time a person...
The survey by The Bureau of Labor Statistics American Time, showed that the time a person spends in the United States using a computer for entertainment varies greatly according to age. Individuals aged 75 years and older averaged 0.3 hrs (18 minutes) per day. Those aged 15 to 19 spent 1.0 hrs a day. If these times follow an exponential distribution find the proportion of each group that passes: a) Less than 15 minutes a day using the computer to...
The Bureau of Labor Statistics reported that the average yearly income of dentists in the year...
The Bureau of Labor Statistics reported that the average yearly income of dentists in the year 2011 was $110,000. A sample of 81 dentists, which was taken in 2012, showed an average yearly income of $120,000. Assume the standard deviation of the population of dentists’ incomes in 2012 is $36,000. a. We want to test to determine if there has been a significant increase in the average yearly income of dentists. Provide the null and the alternative hypotheses b. Compute...
According to the document Consumer Expenditures, a publication of the U.S. Bureau of Labor Statistics, the...
According to the document Consumer Expenditures, a publication of the U.S. Bureau of Labor Statistics, the average consumer unit spent $1749 on apparel and services in 2002. That same year, 25 consumer units in the Northeast had the following normally distributed annual expenditures, in dollars, on apparel and services. At the 5% significance level, do the data provide sufficient evidence to conclude that the 2002 mean annual expenditure on apparel and services for consumer units in the Northeast differed from...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT