Every month, the government publishes a report on how many people have jobs. The report comes from an agency called the Bureau of Labor Statistics. That agency is part of the U.S. Department of Labor. To gather its numbers, it surveys thousands of households and businesses.
The household survey asks people directly if they are working or looking for work. The business survey asks employers how many workers they have on payroll. Combining both surveys gives a fuller picture than either one alone. Government leaders, business owners, and everyday workers all use this data. It helps them understand how the economy is doing right now.
WASHINGTON
Every month, the federal government publishes one of the most closely watched economic reports in the country. It is officially known as the Employment Situation Summary, though most people simply call it the jobs report. The report comes from the Bureau of Labor Statistics, an agency within the U.S. Department of Labor.
To produce the report, the agency relies on two separate surveys conducted each month. The household survey contacts a sample of homes and asks whether each adult is employed or looking for work. The business survey, often called the establishment survey, asks employers how many people they have on payroll. Because each survey measures something slightly different, economists usually look at both together.
The report's findings ripple far beyond government offices. Federal Reserve officials study the numbers closely when deciding whether to raise or lower interest rates. Those decisions affect mortgages, credit cards, and business loans nationwide. Investors, business owners, and everyday families pay attention as well.
Because the data comes from surveys rather than a complete count, the numbers are always estimates. They can be revised in later months as more complete information arrives. Economists generally advise against reading too much into any single month's report. Even so, each report offers an important snapshot of how millions of workers are faring at a given moment.
Sources: Bureau of Labor Statistics, 'Employment Situation Summary,' https://www.bls.gov/news.release/empsit.htm; U.S. Department of Labor, Unemployment Insurance Data, https://www.dol.gov/ui/data.pdf