Friday, April 03, 2009

unemployment rate

http://www.msnbc.msn.com/id/30012462/


The unemployment rate and related data are calculated based on a monthly survey of about 60,000 U.S. households. The survey asks a series of questions to determine whether household residents who are 16 years old or older are employed, unemployed or not in the labor force.

The basic unemployment rate is based on the number of people who say they are currently unemployed but are actively looking for work. The survey also is used to fill in the blanks on other elements of the U.S. employment picture. This includes discouraged workers _ people who are unemployed and no longer seeking work because they don’t think they will find a job _ and people who are working part-time but would like to be working full-time.

The unemployment rate is not based on how many people are collecting unemployment benefits and it does include people who are formerly self-employed. Also, the household survey does not specifically seek to determine whether people are working here legally.

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