Unemployment Rate Primer, Current Economics, Finance and Capital Markets

Curated and Reviewed by Lesson Planet

Ever wonder how the Bureau of Labor Statistics calculates the ever-changing unemployment rate? Sal explains this by breaking down the US population into subsets, including the labor force and the unemployed. He explains the formula for calculating the unemployment rate and what constitutes a member of this subset. He discusses marginally attached workers and explains their effect on the total rate. Sal does a nice job of using hypothetical population statistics to simplify these points for scholars.

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Concepts

the labor force, the unemployment rate

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Additional Tags

unemployment rate, calculate unemployment, bureau of labor statistics, marginally attached workers, labor force, social studies

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Resource Details

Grade

11th - Higher Ed

Subjects

Social Studies & History