How to Find Unemployment Rate

How to Find Unemployment Rate - It is very important that governments are able to determine what percentage of the population is unemployed in order to identify the measures to mitigate unemployment and help those unemployed. However, the unemployment rate in a population can be calculated in many ways. This calculation depends on how you define and apply the term "unemployed" and "busy" as well as the way the data is collected. There are some other nuances that you should take into account for calculating the unemployment rate in the population.
How to Find Unemployment Rate

Method 1

Calculate the federal unemployment rate

1. Calculate the number of unemployed persons. The federal government defines people "unemployed" as those who are able to work and who have actively sought employment in the last four weeks.

  • Seeking employment actively part of a broad category that includes contact from an employer directly with a resume or through an interview, go to a public or private employment agency, ask friends or relatives about employment opportunities, go to work School, put ads in search of work or fill out applications for employment.
  • People who are unemployed, but have stopped looking for jobs, either because they believe they can find one in their line of work because they have failed to find work before or because they feel they are very old or very inexperienced to work, are Considered "marginally linked to the labour market" and therefore is not considered part of the workforce.
  • The federal government estimates this figure conducting surveys for 60,000 US families each month.

2. Calculate the number of people employed. The active population of a nation is composed of people who have full-time jobs. They are also considered occupied if they are self-employed workers who work part-time or labor for a family business for more than 15 hours a week, even if the job is not remunerated. People who have maternity or fatherhood, enjoying their sabbatical or holiday year are also considered occupied because they have a job to go back to.

  • Even if a person is employed or part-time working on a job below their pay scale, that person is still considered a busy person.
  • The federal government also calculates this number by conducting surveys at 60,000 U.S. households every month.

3. Remove people who are not considered within the workforce. People who are not part of the workforce are those who are not actively seeking work or who are busy, whether they are students, housewives or disabled people. The group of people who are not part of the workforce includes those with fewer than 16, people in institutions such as prisons and nursing homes, those who serve in the armed forces, retired, students and disabled.

  • It is important to know what people are not considered to be part of the workforce, so that it should not be counted as wrong or not in the workforce and inclination of the equation.

4. Divide the number of unemployed by the total number of persons employed and unemployed. For example, if we have 4 million of unemployed and 40 million of people employed, we can divide 4 between 44 and get 0.09.

  • It is noted that when calculating real unemployment, the figure will not be as pleasant and precise.
  • You may notice that the original numbers were in millions, but you removed all the zeros, deciding only to share the other digits. If you divide the number with all the digits of millions, you will have the same decimal. Try it, you'll see!

5. Multiply the decimal number by 100 to obtain the percentage. This calculation is as easy as moving the decimal point two positions to the left, for example, the conversion of 9% 0.09.

6. Calculate the employment rate by subtracting that number to 100. If you want to take one step further and want to know what the job rate, then all you have to do is take the unemployment rate and Restársela 100.

  • For example, 100-9 = 91. This means that the employment rate of our fictitious land is 90%, which means that 90% of the people who are able to work and manage to find work and have found. That sounds a little prettier, right?

Method 2

Calculate alternative unemployment measures

1. Calculate the number of people employed and unemployed using federal standards. You can use the numbers from the Federal Bureau of Labor Statistics, which are calculated using a survey of 60,000 families per month.
  • As indicated in the first method, the number of unemployed workers do not include all those who do not have work but instead considers only those who have sought to work "actively" in the last four weeks and adjustment of other specific parameters Identified by the federal government.

2. Calculate the federal unemployment rate. To calculate this percentage will have to calculate the federal unemployment rate, dividing the number of people who actively seek work, but cannot find it, the total number of people who work and seeking employment. Follow the first method to complete this calculation.

3. Calculate the alternative unemployment rates. The federal unemployment rate gives us a complete picture of the real number of people without jobs. A person who has not actively sought jobs in four weeks, even if you have thought of it carefully or read job ads, does not count as unemployed and is not considered as part of the workforce. If you want to calculate a more precise percentage of the people who are unemployed, you have to add to some of the people who are not included in the federal calculation.
  • To calculate the number of unemployed who have not sought work in the last four weeks, the percentage should include only those who want and are available for work, unlike those who are permanently unemployed, as retired.
  • The Bureau of Labor statistics provides you with this information on your site, in addition to the most common data used to calculate unemployment. You can access this information: http://bls.gov/news.release/empsit.t15.htm

4. Play the percentage of federal unemployment rate alternative unemployment. This number will give a fuller image of the percentage of people who are unemployed.
  • This total is available on the Bureau of Labor Statistics website: http://bls.gov/news.release/empsit.t15.htm.

Tips How to Find Unemployment Rate

  • Remember that the employment rate of a country tends to float, especially in times of crisis or economic growth.
  • In the United States, all month data are published regarding the unemployment rate, based on monthly surveys of a large sample of the population (though not all of course). The Bureau of Labor Statistics (BLS) is responsible for performing these household surveys.
  • The person must be at least 16 years old to be regarded as employed or unemployed.
  • Find the updated information on the unemployment rate in the United States http://bls.gov/news.release/empsit.toc.htm.

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