The unemployment rate that is typically reported in the media is ________.
A)based on a survey from 150,000 business establishments on weekly earnings,number of workers and hours worked
B)computed every three months
C)based on a survey of 60,000 households
D)reported by the Treasury Department
E)none of the above

Question

Quizplus · Accepted Answer

The unemployment rate reported in the media is based on a survey of 60,000 households conducted by the Bureau of Labor Statistics. They ask individuals whether they have a job or not and whether they have actively looked for work in the past four weeks. Based on their responses, they categorize individuals as employed, unemployed or not in the labor force. This survey is conducted monthly, not every three months. The unemployment rate is then calculated as the percentage of the unemployed individuals in the labor force.

The Unemployment Rate That Is Typically Reported in the Media