Unemployment Rate

Jobs (employment) are a vital part of our economy. Employment generates income, investments, and determines our standard of living (how well we live). Therefore, understanding what is happening with the supply and demand of jobs or what we call the labor market is very important. It is important to know what types of jobs exists, how much jobs are paying, who is being hired, and how many people are employed.

The government regularly measures the labor market in order to gain a better understanding of how our economy is doing. The Bureau of Labor Statistics (BLS) is the agency that collects and processes a large amount of labor market data. This information is available to everyone through BLS website. Our government and the public use the labor market information provided by BLS to create economic policies and make important decisions.