Question

After getting her degree in Economics, Jeanine went to work for the Bureau of Labor Statistics. She compiles data on the unemployment rate, which serves as an economic indicator. What does this data help Jeanine to understand? a. Whether or not the banking industry is going to require federal assistance. b. How many new employees the Bureau of Labor Statistics should hire this year. c. How to design surveys to collect the information to calculate the unemployment rate. d. How well the economy is doing at a macro level.

Answer 1

Answer:

The correct answer is letter "D": How well the economy is doing at a macro level.

Explanation:

The U.S. Bureau of Labor Statistics (BLS) is an agency in charge of gathering ad analyzing data regarding the labor market and productivity. In such a way, it provides useful output about unemployment and employment in different sectors of an overall economy. If the economy is underperforming, the unemployment rate will be higher but, it the economy is healthy and prosperous the unemployment rate should be lower than the employment rate.

Therefore, by taking a look at the unemployment rate given by the BLS, Jeanine can have an idea of how well the U.S. economy is performing at a macro level.