What is the unemployment rate?
unemployment rate is not just a simple matter for calculation, although some people assume they are. It is not just a division of the number of people without work by the number of people employed to derive a percentage. You cannot also calculate the unemployment rate by simply evaluating the number of people who are administering unemployment benefits or who are currently receiving benefits. These benefits are usually short and do not cover all people who are actively looking for a job. Then there are many part -time workers who would like full -time employment, independent suppliers whose job status may fluctuate, and many other people at different circumstances who do not meet standards that they are either "employed" or "unemployed" and who do not count. The calculation of rates is therefore based on sample populations and several different formulas. It is difficult to obtain the actual unemployment rate and the percentages may not always be precisely the current economic climate in the country.
In order to determine the unemployment rate, the unemployed are generally considered to be those who do not work but actively seek work and have the desire and availability to work full -time. The International Labor Organization (ILO) determines the level of collecting information from surveys, assessing people who receive or apply for unemployment benefits, earn educated estimates from surveys, and evaluate monthly higher acquisitions from work authorities.
The United States uses several methods to calculate the unemployment rate. They use statistics collected by the US Labor Statistics and the US Census Office. In addition, they use contemporary populations (CPS), which analyzes about 60,000 people per month to check employment and unemployment rate. These data are combined to generate a report on the current unemployment rate and workers in CP are divided into five groups:
- unemployed for longerthan 15 weeks
- people who lost their jobs or completed temporary jobs
- Group Meeting Iilo Figures
- people who stopped looking for a job
- those who express the desire to work but who stopped looking temporarily
- part -time workers who cannot find full -time jobs.
unemployment rate then combines this data into a percentage that changes for reporting agencies, such as Bureau of Labor Statistics, monthly. Economists can also make predictions about how business or economic climate can affect employment or lack, and these predictions are relatively accurate. However, none of these surveys, studies or numbers can be considered quite accurate in the evaluation of UNEMMER LOYYMENT, and this is problematic. When the country has to deal with the needs of its citizens, understanding the impact of voluntary or involuntary unemployment is extremely valuable in formulating economic plans. In general, the more information thatIt can be obtained about the degree of employment and unemployment, the better any economic plans or strategies can be.