Question: The US Bureau of Labor Statistics is the primary source of US government data on labor force statistics. These figures are reported monthly in the BLS Economic News Release titled "The Employment Situation."

Visit the home page of the US Bureau of Labor Statistics at http://www.bls .gov/.

Find "The Employment Situation." For all questions, provide answers based on data for the most recent month (seasonally adjusted, if available):

1. Using Table A-1, confirm that you understand how to calculate the labor force participation rate and the unemployment rate using the definitions provided at the start of this chapter. Show your work.
2. Using Table A-1, find the current unemployment rate. How does it compare to the rate 1 year ago? What are the current rates for women and men over 16 years of age?
3. Table A-4 provides current labor force statistics by educational attainment. What patterns do you see, and what might explain them?
4. Table A-15 provides statistics on labor force underutilization. What is the current range of estimates of unemployment (lowest to highest)? Which measures do you think are most useful, and why?

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