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The Bureau of Labor Statistics (BLS) is the federal agency that collects data on labor market conditions, prices, and (industrial and occupational) productivity in the

The Bureau of Labor Statistics (BLS) is the federal agency that collects data on labor market conditions, prices, and (industrial and occupational) productivity in the United States.

Summarize the following briefly:

  • Population (N)
  • Labor force (L)
  • Employed (E)
  • Unemployed (U)
  • Civilian noninstitutional population (16 year-old and older) (CN)
  • Marginally attached to the labor force
  • Discouraged workers
  • Unemployment rate (u = U/L)
  • Labor force participation rate (L/CN)
  • Employment-"population" ratio (E/CN)

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