The unemployment rate for any nation is a big deal: businesses look at this statistic continually to try to "measure the wind" before taking any substantial steps including growing a business. The unemployment rate is one barometer of how the economy is doing and how it can reasonably be expected to perform in the future.

Businesses that are not up to speed on the details of the unemployment rate can read up on the web to get a lot of knowledge about using and dealing with this big number. The web offers a range of data on the unemployment rate for beginners, to assist those in public enterprise with figuring out how the realities of unemployment apply to their shops. Readers can find:

1. Resources on how the unemployment rate is figured up by the federal agencies involved in the calculations.

2. Info on what plays into the unemployment rate, including methodical factors, as well as outside factors that influence actual joblessness.

3. More on what has happened with the U.S. unemployment rate and what may be in store.

Action Steps
The best contacts and resources to help you get it done

See how the unemployment rate is calculated

One way beginners can get a lot closer to a comprehensive knowledge of the unemployment rate is to see how it is calculated. Federal guides online and other sources reveal this information to help provide transparency and use of the unemployment rate as an economic indicator.

I recommend: The USDL (U.S. Dept. of Labor) reveals the nuts and bolts of unemployment rate calculations online. Get more unemployment rate calculation info from state websites like this one for Montana.

Find out about factors that play into the unemployment rate

Beyond the number, there are some elements that influence the unemployment rate, including specific kinds of employment such as sole proprietorship, independent contracting and even the barter system. Find out about what colors the unemployment rate at public websites.

I recommend: Find out about how survey calling and more affects unemployment rates at Think and Ask. Find out more at EconEdLink and consider how many variables may affect the "baseline" rates that get reported in the mainstream media, to provide a better road map for when unemployment may affect your business.

Learn about the history of the unemployment rate and future predictions

Another way to read up on the web is to get context. Lists of unemployment rate statistics over time can tell a lot about where the nation was, is and will be headed. Of course, there's no perfect crystal ball, but the unemployment rate can be a good tool for predictors who are trying to really anticipate changes in the national economy.

I recommend: The USDL also keeps some very detailed database findings available to the public through this site. Get some interesting U.S. unemployment rate predictions from sites like Predictify--but take them with a grain of salt.

Changes in the unemployment rate and employment trends can affect your decisions as a small business owner in the real estate or construction field. Whether its a matter of altering the size of your work force or determining necessary qualifications and rates of pay for a given position, tracking unemployment rate information is both educational and useful.

Finding unemployment rate advice is relatively simple given the progress in websites, RSS feeds and industry blogs in the last few years. Combining statistical information with informative articles on the unemployment rate offers the best balance for success. Consider the following:

1. Unemployment rate training can be acquired from studying both government and economy websites.

2. Consider blogs for a more informal look at employment rates.

3. An unemployment rate consultant offers a personal touch.

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Connect with established websites for help with the unemployment rate

Government websites offer not only the latest unemployment information for your industry but allow you to track changes over time and consider the historical aspect of your sector. Established Economy websites offer a professional but less statistical focused approach to understanding the latest unemployment trends.

I recommend: The U.S. Bureau of Labor Statistics offers both national unemployed rates as well as insights for business owners and occupational based outlook including growth,employment and salary rates. You can subscribe to their site or RSS feed for the latest news. Moody's Analytics provides a broad view economic outlook and includes articles related to different sectors of the economy to track trends and changes. They offer RSS feeds, and a free daily newsletter to keep you abreast of changes in economic indicators that effect your small business.

Link up with Industry websites that offer the inside guide to unemployment rates

Subscribing to leading industry blogs and RSS feeds in real estate and construction can provide you with not only changes and trends in unemployment rates in the industry but also possible factors that affect the rates. viewing unemployment rate in tandem with industry events and economic cycles is extremely helpful.

I recommend: Inman News offers up to date information on trends in the real estate industry including employment rates, articles on growth and loss and forecasts for the future. Bookmark the page or subscribe to their RSS feed. Subscribe to TopBuildingJobs.com RSS feed for both the latest construction job information as well as construction career based articles. This allows you to check the latest salaries and which geographical locations are losing or gaining in construction employment.

Consult with industry experts on unemployment rates to familiarize yourself with the larger picture

Whether its a one time consultation by phone or email or a employee resource within your company, having an individual or consultancy firm to help you wade through the voluminous unemployment rate information out there can make your life a little easier.

I recommend: RealSure is a real estate consultancy website that offers information on the latest employment and industry trends as well as personal consultants to keep you informed on labor changes and salaries. IT allows you to purchase booklets on real estate trends as well as download white papers relating to the outlook for the real estate and construction industry. Global Employment Consultants offers hiring, salary rates and employment help for the construction industry. They can help you with the hiring process and keep you abreast of the latest happenings in the industry. Scroll to the bottom of their services page for contact information to set up a consultation.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  After getting help with unemployment rate changes, be sure to store and review this information before making hiring and firing decisions within your company. Being informed is to help you prevent uneducated and hasty decision making.

The national unemployment rate is an important indicator of the economy's health. To get the most accurate number, those who are under or over the working age are not figured in the calculations, in addition to those who fall within that range but are not actively seeking work. However, these numbers are still available from the government.

The rest of the population is divided into people who are employed, and people who are seeking work but remain unemployed. You can find unemployment rate news and trends through many publications and online sources, and the information may be general or specific to a particular region or industry. Resources for unemployment figures include:

1. Government agencies that provide the national unemployment rate.

2. Industry organizations that provide their own figures.

3. Local news sources that publish local unemployment numbers.

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The best contacts and resources to help you get it done

Find national unemployment rate news and trends information

If you want to determine the health of the nation's economy, you can find news and information on the national unemployment rate. This figure represents the average number of people without jobs. You can also find out how many people are actively seeking employment, as opposed to people who cannot choose to have full-time employment, like those under the age of 16 or people who are institutionalized.

I recommend: U.S. Bureau of Labor Statistics (BLS) offers current news on the national unemployment rate through the Current Population Survey. Nobosh also publishes national unemployment rates and related news pieces on the national economy.

Read unemployment rate news for state and local areas

You can also look up local unemployment rates to see how a regional economy measures up against the national numbers. This will help to determine whether a local area is thriving or falling behind the rest of the country when it comes to creating new job opportunities.

I recommend: The BLS also publishes updated unemployment rates by state for the previous quarter. Many states also offer their own numbers through their departments of labor, as the South Dakota Department of Labor and the Ohio Department of Job and Family Services do.

Determine unemployment rates within specific industries

You can also find the unemployment rate within a specific industry by researching information provided by industry organizations or government offices that keep track of unemployment numbers for businesses. These numbers will help to determine the need or lack of jobs in any specific industry.

I recommend: The Service Employees International Union offers news and trends on the unemployment rate among service employees, including healthcare, education and security professionals. You can check with a professional association or union for figures within an industry; for instance, CENews.com provides economic and unemployment news for the civil engineers.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The Bureau of Labor Statistics publishes updated employment figures every month to include the previous month's layoff and hiring statistics.

Many businesses watch the U.S. unemployment rate carefully. The unemployment rate is a significant indicator of overall economic health, as well as a harbinger of some industry-related trends. Also, businesses forced to lay off workers have to pay more in unemployment insurance, which affects their bottom line. Knowing how the unemployment rate works can help a business navigate changes as its leaders deal with any given situation. The following unemployment rate key terms will get you started.

Action Steps
The best contacts and resources to help you get it done

Economic cycles

Economic cycles play a key role in the changes in an unemployment rate and other national statistics. Looking at economic cycles will help business leaders avoid reading too much into an unemployment statistic.

I recommend: See more on economic cycles at InvestorWords.

Bureau of Labor Statistics

The Bureau of Labor Statistics, an arm of the U.S. Department of Labor, is responsible for conducting government research on unemployment rates and other similar statistics. Much of the information available on the unemployment rate comes through this source.

I recommend: See more on the U.S. Bureau of Labor Statistics on its website.

Current Population Survey

The Current Population Survey examines households to see who's unemployed and other salient aspects of work force status. It's a cross section of the population that provides a kind of average used to calculate unemployment statistics.

I recommend: Find out more about the Current Population Survey at this BLS page.

Regional unemployment rate and Local Area Unemployment Statistics

A regional unemployment rate provides businesses with more concrete studies of how the economy is doing in their immediate area. The Local Area Unemployment Statistics part of the BLS website addresses this with key data on unemployment by region.

I recommend: See details on LAUS statistics.

Salary trends and the National Compensation Survey

Salary trends are averages of professional salaries that can provide businesses with more information about factors of the unemployment rate and the general economy. To this end, the BLS has created a National Compensation Survey to show businesses info on salary trends, as well as benefit incidence, for providing insight on how and when benefits are created in the job market.

I recommend: See more on the National Compensation Survey.

Employment criteria

For a look at how the unemployment rate is calculated, it may also help to look at specific unemployment criteria, as well as examining seasonal factors.

I recommend: Find more on both of these concepts at this BLS FAQ.