Economic Snapshot

3rd Quarter 1996

Q4-95 Q1-96 Q2-96 Q3-96
Growth Rate—Real Gross Domestic Product 0.3% 2.0% 4.7% 2.0%*
Inflation Rate—Consumer Price Index 2.4% 3.2% 3.8% 2.3%
Civilian Unemployment Rate 5.6% 5.6% 5.4% 5.2%
 

How does the federal government measure unemployment?

The Bureau of Labor Statistics (BLS) conducts a monthly survey called the Current Population Survey. The BLS randomly chooses about 58,000 households to survey.

It counts people as unemployed if they:

  • Are not working, but have actively looked for work in the last month
  • Were laid off from their previous jobs and are waiting to be recalled by the same firms
  • Are waiting to start new jobs within the next month
Central Banker logo

Subscribe

Keep up with what’s new and noteworthy at the St. Louis Fed. Sign up now to have this free monthly e-newsletter emailed to you.