I would like to create an unemployment rate with the CPS 1994-1999 March data. How would I go about doing so?

CPS
1

I would like to create an unemployment rate with the CPS 1994-1999 March data. How would I go about doing so?

Im using a IPUMS-CPS extract for 1994-1999.

2

To generate an unemployment rate for any given year of the CPS March supplement all you need is the EMPSTAT variable and the weight variable WTSUPP. Simply find the weighted frequency of unemployed persons (EMPSTAT=21 and EMPSTAT=22) and divide by the weighted frequency of persons in the labor force (EMPSTAT>=10 and EMPSTAT<=22).

I hope this helps.