Wisconsin Unemployment Rate
The unemployment rate is a way for the Bureau of Labor Statistics to measure the number of unemployed individuals within the state’s work force. While the term ‘jobless rate’ is tossed around in the media often, there is a reason why this percentage is held in such high regard. The higher the unemployment rate is, the more unemployment a state has and the less the economy will flourish. Employment allows individuals the potential to spend money at their leisure, which directly influences the economy. The jobless rate is measured through a series of surveys conducted by the Bureau of Labor Statistics in order to calculate who is at least 16 years of age and actively seeking employment. Individuals who have temporary employment, part-time employment, have re-tired or abandoned the labor force are not calculated into this percentage. While the unemployment rate is calculated every month on a state level, it is also measured for the country as a whole. This way officials and economists can help assess economic trends and determine whether the area is in a recession and how it will influences the affected area’s unemployment insurance program.