“Shaking off fears about weakness in housing and credit, the U.S. economy created 166,000 net jobs in October, the best job growth since May, the Labor Department reported Friday….
The unemployment rate was steady at 4.7% as expected, the government said…..
However, a separate survey of 60,000 households showed a loss of 250,000 workers, the third decline in the past four months.”
Extra Credit: Explain how the Bureau of Labor Statistics came up with a 4.7%. unemployment rate in October. Use the actual numbers in the Employment Situation Summary to illustrate. Hint: See Figure 6.1 in your e-book. The unemployment rate is calculated by dividing the number of unemployed individuals by the number of people in the labor force and multiplying by 100 If you are the first student to send me an e-mail (firstname.lastname@example.org) with the answer, you will be rewarded with two extra credit Discussion Board points. Only two points extra credit per student can be earned in any given week from the blog questions.