About Bureau of labor statistics
The Bureau of Labor Statistics (BLS) is a government agency that serves as the primary source of labor economics and statistics for the federal government. The BLS collects, analyzes, and disseminates data on employment, wages, productivity, inflation, and other economic indicators to help policymakers make informed decisions.
The BLS was established in 1884 as part of the Department of Labor. Its mission is to promote a better understanding of the U.S. economy by providing timely and accurate information on labor market activity. The agency's work is critical to policymakers at all levels of government who rely on its data to make informed decisions about economic policy.
One of the key functions of the BLS is collecting data on employment and unemployment in the United States. This includes conducting surveys such as the Current Population Survey (CPS), which provides monthly estimates of employment and unemployment rates for different demographic groups.
In addition to employment data, the BLS also collects information on wages and compensation. This includes data from surveys such as the National Compensation Survey (NCS), which provides information on pay levels for different occupations across industries.
Another important area where the BLS provides valuable insights is productivity. The agency tracks changes in output per hour worked across different sectors of the economy using measures like labor productivity and multifactor productivity.
The BLS also plays a key role in tracking inflation through its Consumer Price Index (CPI) program. The CPI measures changes in prices for goods and services purchased by households over time, providing an important indicator for policymakers trying to manage inflationary pressures in the economy.
Overall, there are many reasons why businesses, policymakers, researchers, journalists – anyone interested in understanding how our economy works – should turn to Bureau Of Labor Statistics' website or publications first when looking for reliable information about labor economics or statistics related topics.
In conclusion:
If you're looking for reliable information about labor economics or statistics related topics then look no further than Bureau Of Labor Statistics' website or publications! As one can see from this article alone - they are an invaluable resource that has been serving our country since 1884 with their mission being "to promote a better understanding" through timely & accurate reporting so that everyone can make informed decisions based off what they learn here!