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ALTERNATIVE UNEMPLOYMENT RATES: The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked by the BLS, officially labeled U1-U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be underutilized, including unemployment duration, job losers, discouraged workers, marginally-attached workers, and part-time workers.

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BUSINESS CYCLE PHASES

The recurring, but irregular, pattern of business cycles can be divided into two basic phases--expansion and contraction. An expansion is a period of increasing economic activity and a contraction is a period of declining economic activity. These two phases are marked by two transitions. The transition from expansion to contraction is termed a peak and the transition from contraction to expansion is termed a trough. The early portion of an expansion is often referred to as a recovery.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for neighborhood pets, especially belligerent parrots.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate."

-- John Glenn, astronaut, U.S. senator

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