1. In February of 2020, before the pandemic, the US labor force was 164,546,000. Suppose the labor force was at that same level in August.What would that imply about the unemployment rate?That is, what would the unemployment rate be in August if the August labor force was 164,546,000 rather than 160,838,0001?Explain how you obtain your answer.

2.

The unemployment rate was 3.5% in February. If the labor force remains at the August level (160,838,000), how much does employment have to rise for the unemployment rate to fall back to 3.5%?Explain how you obtain your answer.