The bureau of labor statistics website wwwblsgov

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The Bureau of Labor Statistics website ( ) defines unemployment as “people who are jobless, looking for a job, and available for work…”. There are many factors that can make measuring the unemployment rate very difficult. First, there has to be a way to definitively determine who is eligible and available to work. In order to make this determination, the population must be divided into groups: those under the age of 16,
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those “not in the labor force” who are eligible but not actively looking for employment, and those in the labor force. The Bureau of Labor Statistics also includes part-time workers which further skews the stats. Unemployment is a major factor in our economy. The employed workers typically spend the majority of their earnings which helps to stimulate the economy. The lower the unemployment rate, the more workers contributing to the economy. Unemployment also affects non-economic factors. Unemployment leads to loss in wages which can lead to higher rates of depression. This can lead to substance abuse, alcoholism, high crime rates, etc. This in turn has a negative effect on family dynamic. Not having the ability to provide for their family can cause a mental strain on the unemployed. Everyone loses when it comes to unemployment. Those who are unemployed, lose their sense of self-worth as they are not able to provide for their families. Businesses lose revenue due to lower consumer demands. The economy as a whole loses as a result of high unemployment rates.
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