Unemployment Rate for Beginners

Getting the basics on the unemployment rate online
By J. Stoltzfus, writer/programmer, LOCAL CITIZEN 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.

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.
Try:  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.
Try:  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.
Try:  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.