The Current Population Survey is conducted by the
Group of answer choices
A Council of Economic Advisers.
B Federal Reserve Board. U.S.
C Census Bureau. U.S.
D Department of Commerce.
E Department of Labor.
The correct answer and explanation is:
The correct answer is E) Department of Labor.
The Current Population Survey (CPS) is a monthly survey conducted by the U.S. Department of Labor, specifically by the Bureau of Labor Statistics (BLS) in cooperation with the U.S. Census Bureau. This survey collects data on the labor force, employment, unemployment, and other demographic information related to the workforce in the United States. It is considered one of the most reliable sources of labor market statistics in the country and is used by policymakers, researchers, and economists to track trends in employment, wages, and labor force participation.
The CPS is significant because it is the primary source of labor force data for the U.S. government. The data gathered from the survey is used to calculate the official unemployment rate, which is one of the key indicators of economic health. The CPS also gathers information on various subgroups within the labor market, including age, gender, race, and educational attainment. The results are regularly used by the Federal Reserve and other government agencies to help guide economic policy decisions.
Every month, the survey reaches approximately 60,000 households across the U.S., ensuring a broad and representative sample. It asks questions related to employment status, job search activity, hours worked, earnings, and other labor-related information. It is also critical for understanding trends in non-labor factors such as migration and household composition, providing a broad picture of socio-economic conditions in the United States.
In sum, the CPS is conducted by the U.S. Department of Labor, in cooperation with the Census Bureau, and provides essential data for analyzing labor market trends and shaping economic policy.