Description
The U.S. Unemployment Rate is calculated and published by the Bureau of Labor Statistics (BLS). It measures the percentage of individuals who are jobless, have actively sought work in the past four weeks, and are available for work. This rate is a crucial indicator of the US labor market and economy. A high unemployment rate usually signals a week labor market, while a low rate suggests a healthy labor market.
Unlike non-farm payroll data, which is derived from the Establishment Survey targeting businesses, the unemployment rate is based on the Household Survey, which targets households. These surveys differ in their subjects, scope, and methods, leading to possible scenarios where non-farm payrolls increase while the unemployment rate also rises.
This data is typically released at the beginning of each month, reflecting the employment situation of the previous month.