The Bureau of Labor Statistics (BLS) is the principal U.S. federal agency responsible for measuring labor market activity, working conditions, and price changes in the economy. Its mission is to collect, analyze, and disseminate essential economic information to support public and private decision-making.
The civilian labor force encompasses all individuals aged 16 or over in the United States who are not in military service or institutionalized and are either employed or unemployed but actively seeking and available for work.
The Employment Cost Index (ECI) is a quarterly report issued by the U.S. Department of Labor that tracks changes in employer payroll costs including salaries, wages, benefits, and bonuses. It serves as a significant indicator for understanding trends in employment costs and potential inflation.
The Occupational Safety and Health Administration (OSHA) is a regulatory agency of the U.S. Department of Labor responsible for ensuring safe and healthful working conditions by setting and enforcing standards and by providing training, outreach, education, and assistance.
The unemployment rate represents the percentage of the civilian labor force that is actively looking for work but is unable to find jobs. This rate is compiled by the U.S. Department of Labor, in cooperation with labor departments in all states, and is released to the public on the first Friday of every month.
