Question
. The household and establishment surveys The Bureau of Labor Statistics (BLS) collects employment, earnings, and price index information for the U.S. Federal Govemment. As part of its responsibilities, the BLS obtains information on the current employment situation each month. The monthly BLS news release on the employment situation is the source for headines about the unemployment rate and the economy's success or failure in creating jobs. The ILS reties on two surveys, the houschold survey and the estabishment survey, to generate Rs monthly employment report LABOR OF LAB 2 The BLS uses the household survey (fhaly, the current p pat on Srvey) t opte-formation on the empire. status of the civilian noninstitutional population 16 years of age and older. This popudation excludes people on active duty in the miitary as well as those conned to institut ons (praores, patets at mental institutors, and those in hones for t spd or nfirm). The household survey covers a sample of approximately 60,000 U.S. households
Explanation / Answer
1. Only Counts wage and salary workers on non farm payrolls
2. Counts the number of jobs rather then the number of employed
3. Tends to undercount job creation under new companies
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