Lec_4_Unemployment_Rate

Lec_4_Unemployment_Rate - EC 400 Measurement of the...

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EC 400 1 Measurement of the Unemployment Rate The unemployment rate is calculated by the Bureau of Labor Statistics (BLS) • Uses data from a survey is conducted by the Bureau of the Censu the Bureau of the Census • Survey is called the Current Population Survey (CPS) (the household survey) Set up of CPS • 60,000 households • Each household interviewed for 4 consecutive months • Not interviewed for 8 months • Interviewed for another 4 months • Then dropped from the sample
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2 Set up of CPS • 50% of households surveyed during 2006 were survey during 2005. • 50% of households surveyed during 2006 will be survey during 2007 will be survey during 2007. • 75% of households surveyed during any month were also surveyed during the previous month. Set up of CPS • Survey takes place during the week that includes the 19 th day of the month. • Questions refer to the week that includes the 12 th day of the month (called the day of the month (called the (during reference week).
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This note was uploaded on 09/14/2009 for the course EC 400 taught by Professor Cover during the Spring '09 term at Alabama.

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Lec_4_Unemployment_Rate - EC 400 Measurement of the...

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