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 Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
The labor force encompasses individuals over 16 years of age who are either employed or actively seeking employment, as measured by the U.S. Bureau of Labor Statistics.
