Please elaborate and agree with this response in a minimum of 175 words
The formulas that are used to calculate the unemployment seem simple, but they can be deceiving. To start off we must determine our current work force by taking our children and people in school, following by removing people that aren’t in the labor force. After we have removed them from the equation, we take the current people who are unemployed and divide that number by the current number of employed workers. Doing it this way helps make sure that people who can’t work or who are retired are not part of the unemployed population. Once you have that completed you multiply it by 100 to get the percentage of the population that is unemployed.
Inflation is measured by taking the CPI from the higher year and subtracting it from the CPI of the lower year and then dividing it by the CPI of the lower year. You will then multiply it by 100 to get the inflation percentage. CPI is the found by using the price of the most recent market basket in the particular year and dividing it by the price estimate of the market basket in 1982-1984 which is arbitrarily set to 100 by the BLS. You then multiple that by 100 to get again get the percentage.
