Unemployment Rates and Their Implications for Human Resource Planning

Abstract

In this study, the planning implications of using local unemployment rates, published monthly by the U.S. Bureau of Labor Statistics (BLS) , are examined. An argument is made that many planners are unaware of the implications of using published unemployment rates in their planning activities. This is primarily because of a lack of understanding of the definitions used by BLS in its statistical program. Research reveals several alternative ways to view unemployment at the local level. Unique data from the Youngstown/Warren SMSA is used to illustrate the problems and prospects of concern to planners. The paper suggests the increased need for local unemployment rate studies.