The table below provides employment and labour force data for a small economy over a 3 -month

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The table below provides employment and labour force data for a small economy over a 3 -month period.

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a. What is the unemployment rate on September 1 , October 1 , and November 1 ?

b. Explain why the unemployment rate changes even though the stock of unemployment remains stable.

c. Provide a likely explanation for the change in this economy's labour force. In this case, is the unemployment rate an accurate measure of the amount of slack (excess supply) in the labour market?

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Macroeconomics

ISBN: 9780133910445

15th Edition

Authors: Christopher T S Ragan

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