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> Workforce participation also can be valuable instead of or in addition to unemployment numbers, since you fall out of the count once unemployment benefits exp
by pkaye 1y ago
> Workforce participation also can be valuable instead of or in addition to unemployment numbers, since you fall out of the count once unemployment benefits expire.
Unemployment rates are calculated based on surveys. They call many people and ask a series of questions to determine which category they fit into.
- sehansen 1y agoYeah, the relevant definition of unemployed is basically "did you reach out to anyone in any way about a job within the last four weeks?", even asking a friend if their workplace is hiring would count. And the survey is surprisingly thorough, with around 110,000 individuals surveyed each month. There's a quite good writeup at: https://www.bls.gov/cps/cps_htgm.htm https://www.bls.gov/cps/cps_htgm.htm