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.

Solutions

Expert Solution

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

The Bureau of Labor and Statistics (BLS) calculates the unemployment rate for the United States. For...

The Bureau of Labor and Statistics (BLS) calculates the unemployment rate for the United States. For June of 2020, they published numbers that were close to the following: Civilian noninstitutional Population = 260 million Labor Force = 160 million Employed = 142 million Unemployed = 18 million Retired = 60 million A- Calculate the unemployment rate and the participation rate for June of 2020 in the US using two decimal places (3 points each). B- The United States have gone...

According to the Bureau of Labor Statistics (BLS), the mean weekly earnings of salary workers in...

According to the Bureau of Labor Statistics (BLS), the mean weekly earnings of salary workers in the United States in 2018 was µ =$870. Assume that the weekly earnings are approximately normally distributed with a standard deviation of σ = $90. If a salary worker is selected at random, what is the probability that his/her weekly earnings exceed $700? What are the weekly earnings for which 95% of salary workers’ earnings are in this range? What is the weekly earning...

PART A In 2011, the Bureau of Labor Statistics (BLS) announced that of all adult Americans,...

PART A In 2011, the Bureau of Labor Statistics (BLS) announced that of all adult Americans, 139.93 million were employed, 13.43 million were unemployed, and 86.39 million were not in the labor force. The adult population is how many million? Enter a number rounded to two decimal places. PART B In 2011, the Bureau of Labor Statistics (BLS) announced that of all adult Americans, 139.13 million were employed, 13.20 million were unemployed, and 86.90 million were not in the labor...

The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the...

The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the employment picture for the entire population. Once the adjustment is made, the BLS uses the figures to generate key employment indicators. The following table presents information from the household surveys conducted for November 2017 and, for purposes of comparison, November 2016. The numbers in the table are listed in thousands. For example, the number of unemployed in the table for November 2017 indicates that...

In the June 2020, the Bureau of Labor Statistics (BLS) announced that they had possibly miscalculated...

In the June 2020, the Bureau of Labor Statistics (BLS) announced that they had possibly miscalculated the official U.S. unemployment rate for the last three months. The BLS said that they "underestimated" the unemployment rate (for March, April, and May) because of how furloughed workers had been classified. What's a furloughed worker, and should they be considered "employed", "unemployed", or "neither"?

The United States Bureau of Labor Statistics (BLS) conducts the Quarterly Census of Employment and Wages...

The United States Bureau of Labor Statistics (BLS) conducts the Quarterly Census of Employment and Wages (QCEW) and reports a variety of information on each county in America. In the third quarter of 2016, the QCEW reported the total taxable earnings, in millions, of all wage earners in all 3222 counties in America. Suppose that James is an economist who collects a simple random sample of the total taxable earnings of workers in 52 American counties during the third quarter...

The Bureau of Labor Statistics (BLS) reported that 9.6% of adults aged 20 to 24 years...

The Bureau of Labor Statistics (BLS) reported that 9.6% of adults aged 20 to 24 years were unemployed in April 2015. Suppose that Jacqui believes that in her city the unemployment rate is higher than the reported proportion. She determines the unemployment status of 450 randomly selected adults in the given age range. She decides to conduct a z-test for the proportion p of unemployed adults in her town aged 20 to 24 years old. Determine the power to reject...

Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status...

Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person’s status as employed, unemployed, “not in the labor force” (if not in the civilian labor force but still part of the adult population), or “not in the adult population” if not in the civilian adult population. Person Status Lorenzo is a 75-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. Neha is a 36-year-old autoworker...

The Bureau of Labor Statistics (BLS) reports on the number of jobs created using data from...

The Bureau of Labor Statistics (BLS) reports on the number of jobs created using data from the ____________. United States Census Annual Business Survey (ABS) Current Employment Statistics (CES) survey Current Population Survey (CPS)

Presently, the 'official' headline unemployment rate published by the Bureau of Labor Statistics (BLS) does not...

Presently, the 'official' headline unemployment rate published by the Bureau of Labor Statistics (BLS) does not recognize "discouraged workers" as part of the Labor Force. Would capturing "discouraged workers" provide for a more accurate measure of the nation's unemployment picture? Explain. What impact does the labor force participation rate have on the unemployment rate?

Subjects