Who Invented the Unemployment Rate and How It is Calculated?

 

Who Invented the Unemployment Rate?

• The concept of measuring unemployment dates back to the early 20th century, with the U.S. Bureau of Labor Statistics (BLS) being the key organization responsible for its development and tracking in the United States.
• The unemployment rate as a formal economic indicator began to be regularly tracked in the 1930s, during the Great Depression, when the economic impact of unemployment was widely felt.

---

How is the Unemployment Rate Calculated?

• Formula:
  $\text{<i>Unemployment Rate = Number of unemployment People / Labor Force x 100</i>}$

• Labor Force: Includes both employed and actively seeking unemployed people (not those who are not looking for work).

• Unemployed People: Those who are jobless, actively seeking work, and available to start a job.

---

Key Facts:

• Frequency: The U.S. unemployment rate is calculated and published monthly by the BLS.
• Data Source: The primary data comes from the Current Population Survey (CPS), which surveys around 60,000 households.
• Seasonal Adjustments: The unemployment rate is often seasonally adjusted to account for regular fluctuations in employment (e.g., holidays, weather-related industries).
• Types of Unemployment: Includes frictional, cyclical, and structural unemployment.
• Alternative Measures: The U.S. tracks other broader measures like U-6, which includes discouraged workers and those working part-time for economic reasons.

The most 10 commonly used Microsoft Excel FORMULAS!

 

1.    SUM: Calculates the sum of a range of cells. For example, =SUM(A1:A10) will add up the values in cells A1 through A10.

2.       AVERAGE: Calculates the average of a range of cells. For example, =AVERAGE(A1:A10) will calculate the average of the values in cells A1 through A10.

 

3.       MAX: Returns the largest value in a range of cells. For example, =MAX(A1:A10) will return the largest value in cells A1 through A10.

 

4.       MIN: Returns the smallest value in a range of cells. For example, =MIN(A1:A10) will return the smallest value in cells A1 through A10.

 

5.       COUNT: Counts the number of cells in a range that contain numeric values. For example, =COUNT(A1:A10) will count the number of cells in cells A1 through A10 that contain numeric values.

 

6.       COUNTIF: Counts the number of cells in a range that meet a certain condition. For example, =COUNTIF(A1:A10, ">5") will count the number of cells in cells A1 through A10 that are greater than 5.

 

7.       IF: Returns one value if a condition is true and another value if it is false. For example, =IF(A1>5, "Yes", "No") will return "Yes" if the value in cell A1 is greater than 5, and "No" if it is not.

 

8.       CONCATENATE: Joins two or more strings of text together. For example, =CONCATENATE(A1, " ", B1) will join the text in cell A1 and B1 with a space in between.

 

9.       VLOOKUP: Searches for a value in the first column of a table and returns a corresponding value in the same row from a specified column. For example, =VLOOKUP(A1, Table1, 2, FALSE) will search for the value in cell A1 in the first column of Table1 and return the corresponding value from the second column.

 

10.   INDEX/MATCH: A combination of two formulas that searches for a value in a column and returns a corresponding value in the same row from a different column. For example, =INDEX(Table1[Column2],MATCH(A1,Table1[Column1],0)) will search for the value in cell A1 in the column named Column1 of Table1 and return the corresponding value from the column named Column2.

Who Was the Founder of WORLD'S First University?

Fatima Muhammad Al-Fihri , a Muslim woman, child of Muhammed Al-Fihri, a wealthy merchant. She migrated from the city Kairouan, (located present day in Tunisia) to Fes (modern day in Morocco). She inherited her father's fortune and decided to build an educational institution. 

In 859, she founded University of Al-karaouine, the World's first university, which was able to grant degree in higher education capacity. 

Source: "Sacred Destinations." Kairaouine Mosque. N.p., n.d. Web. 01 Sept. 2013. 
<http://www.sacred-destinations.com/morocco/fes-kairaouine-mosque>.

What is the Name of the World's First University? Where's Located?

Have you ever wondered, what is the name of the world's first university, where was it located? Based on my research, I found it out that the name of the first University in the world is 

• Name: University of Al-Karaouine"

• Location:  Fes, Morrocco. 

• Founded by: It was founded in approximately 859 by Fatima Al- Fihri, (a Woman). 

• Study Area: Natural Sciences. 

• Until 1957, it added mathematics, physics, chemistry and foreign languages

Check out this video

Source: "Top 10 Oldest Universities in the World: Ancient Colleges." Top 10 Oldest Universities in the World Ancient Colleges Comments. N.p., n.d. Web. 01 Sept. 2013. <http://collegestats.org/articles/2009/12/top-10-oldest-universities-in-the-world-ancient-colleges/>.