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What are the three categories into which the Bureau of Labor Statistics divides everyone? How does...

What are the three categories into which the Bureau of Labor Statistics divides everyone? How does the BLS compute the labor force, the unempoyment rate, and the labor force participation rate?

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The BLS categorizes every adult ( 16 years or older) in 3 categories- Employed, Unemployed, Not in labor force (Adults who are neither employed nor unemployed are considered as not in labor force. Also people who are not actively seeking for job are considered to be in not in labor force).

BLS computes labor force as the sum of employed and unemployed.

The unemployment rate is calculated by dividing the number of unemployed persons by labor force. The unemployment rate is the percentage of labor force that is unemployed.

Labor force participation rate is calculated by dividing labor force by total adult population of that country. Labor force participation rate is the percentage of total adult population that is in labor force.

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