Our goal is to up your participation
The Bureau of Labor Statistics will release its monthly unemployment data today. Typically, this report garners a lot of media attention. There is a gaggle of reporters who salivate over this month’s unemployment rate.
What is this month’s unemployment rate? They all want to know what percentage of Americans are out of work and how does that percentage rate compare with historical data.
There is very little attention, however, paid to another gauge to measure the nation’s employment situation. It’s called the Labor Force Participation Rate.
According to investopedia.com, the labor force participation rate is a measure of an economy’s active workforce. The formula for the number is the sum of all workers who are employed or actively seeking employment divided by the total noninstitutionalized, civilian working-age population.
More Employment Data
Last month (the data for May, 2021) the U.S. Labor Participation Rate stood at 61.6 according to the Bureau of Labor Statistics (BLS), which publishes updates monthly when it reports the country’s unemployment rate.
Nifty50s maintains a snapshot of the current employment data as put forth by the Bureau of Labor Statistics on our home page. Beginning with the June data (as soon as it’s available,) we also will include the Labor Force Participation Rate.
It’s a number in which we sincerely hope you soon will be included.