Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'
The source code is: LNS13000000

The Unemployment Level is the aggregate measure of people currently unemployed in the US. Someone in the labor force is defined as unemployed if they were not employed during the survey reference week, were available for work, and made at least one active effort to find a job during the 4-week survey period.

The Unemployment Level is collected in the CPS and published by the BLS. It is provided on a monthly basis, so this data is used in part by macroeconomists as an initial economic indicator of current trends. The Unemployment Level helps government agencies, financial markets, and researchers gauge the overall health of the economy.

Note that individuals that are not employed but not actively looking for a job are not counted as unemployed. For instance, declines in the Unemployment Level may either reflect movements of unemployed individuals into the labor force because they found a job, or movements of unemployed individuals out of the labor force because they stopped looking to find a job.


For more information, see:
U.S. Bureau of Labor Statistics, CES Overview
U.S. Bureau of Labor Statistics, BLS Handbook of Methods: Chapter 2. Employment, Hours, and Earnings from the Establishment Survey

Source: U.S. Bureau of Labor Statistics  

Release: Consumer Price Index  

Units:  Index 1982-1984=100, Seasonally Adjusted

Frequency:  Monthly

Notes:

The Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) is a price index of a basket of goods and services paid by urban consumers. Percent changes in the price index measure the inflation rate between any two time periods. The most common inflation metric is the percent change from one year ago. It can also represent the buying habits of urban consumers. This particular index includes roughly 88 percent of the total population, accounting for wage earners, clerical workers, technical workers, self-employed, short-term workers, unemployed, retirees, and those not in the labor force.

The CPIs are based on prices for food, clothing, shelter, and fuels; transportation fares; service fees (e.g., water and sewer service); and sales taxes. Prices are collected monthly from about 4,000 housing units and approximately 26,000 retail establishments across 87 urban areas. To calculate the index, price changes are averaged with weights representing their importance in the spending of the particular group. The index measures price changes (as a percent change) from a predetermined reference date. In addition to the original unadjusted index distributed, the Bureau of Labor Statistics also releases a seasonally adjusted index. The unadjusted series reflects all factors that may influence a change in prices. However, it can be very useful to look at the seasonally adjusted CPI, which removes the effects of seasonal changes, such as weather, school year, production cycles, and holidays.

The CPI can be used to recognize periods of inflation and deflation. Significant increases in the CPI within a short time frame might indicate a period of inflation, and significant decreases in CPI within a short time frame might indicate a period of deflation. However, because the CPI includes volatile food and oil prices, it might not be a reliable measure of inflationary and deflationary periods. For a more accurate detection, the core CPI (CPILFESL) is often used. When using the CPI, please note that it is not applicable to all consumers and should not be used to determine relative living costs. Additionally, the CPI is a statistical measure vulnerable to sampling error since it is based on a sample of prices and not the complete average.

For more information on the consumer price indexes, see:
Bureau of Economic Analysis. "CPI Detailed Report." 2013.
Handbook of Methods
Understanding the CPI: Frequently Asked Questions