GENERAL KNOWLEDGE

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GK

BUSINESS MANAGEMENT

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
A survey of about 60, 000 households that is conducted by the Bureau of Labor Statistics. Personal interviews are conducted monthly to determine participation in the workforce, unemployment, and reasons for not working or for only working part-time.
A
Field Labor Survey (FLS)
B
Current Population Survey (CPS)
C
Labor Force Survey (LFS)
D
Bureau of Labor Statistics (BLS)
Explanation: 

Detailed explanation-1: -The Current Population Survey (CPS) is the primary source of labor force statistics for the population of the U.S. The Bureau of Labor Statistics sponsors the survey, and the U.S. Census Bureau conducts the data each month. The CPS involves a sample of about 60, 000 occupied households.

Detailed explanation-2: -The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed). The unemployment rate is calculated as: (Unemployed รท Labor Force) x 100.

Detailed explanation-3: -The labor force is the sum of employed and unemployed persons. The labor force participation rate is the labor force as a percent of the civilian noninstitutional population. Browse various labor force characteristics. Data also are available by demographic characteristics.

Detailed explanation-4: -To be classified as unemployed, a person must be without a job, currently available to work, and actively looking for work in the previous four weeks.

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