Bureau of Labor Statistics

Definition

The Bureau of Labor Statistics (BLS) is a federal agency that collects, analyzes, and reports on labor market data in the United States. It provides important information such as employment rates, inflation rates, and wage levels.

Related terms

Unemployment rate: The percentage of people in the labor force who are actively seeking employment but currently do not have a job.

Consumer Price Index (CPI): A measure of changes in the average prices paid by urban consumers for a fixed basket of goods and services over time.

Wage growth: The increase in wages or salaries earned by workers over a certain period of time.