1.Evaluate these scenarios and tell me how each would reflect on current labor market conditions. That means would it suggest that it is improving or getting worse.

a.Unemployment rate is falling as economic conditions are improving

b.Unemployment rate rises due to high school dropouts entering the labor force as they see employment prospects improve.

c.Unemployment rate falls as those with limited marketable skills drop out of the labor force because firms are significantly laying off workers.

d.Unemployment rate rises as economy plummets.

2.Compare these groups and choose which one experiences higher rates of unemployment.

a.Ages 16-19 vs. Ages 25-54

b.Whites vs. Hispanics

c.Male vs. Female in 2010

3.We learned about three types of unemployment: cyclical, structural, and frictional unemployment. Describe what type of unemployment is occurring for each of these circumstances.

a.Janice is a high school dropout with limited marketable skills.

b.Lois was laid off temporarily from her job at a chicken processing plant due to poor economic conditions.

c.Mark left his job as a lawyer to follow his spouse who took a job on the other side of the state.

d.Kermit was let go from his job in sales because firm revenues are declining.

4.Determine whether these statements are true regarding the natural rate of unemployment.

a.This rate has been constant over time.

b.Its rate has risen due to the low number of young workers.

c.The prevalence of the internet has caused this rate to fall.

d.Policies that make welfare less generous will cause the rate to rise.

1.Here is information from the Kingsbury economy.

Category

Number

Adult population

58,435

Unemployed

2,848

Not in labor force

11,025

Employed

32,429

a.Calculate the unemployment rate.

b.Calculate the labor force participation rate.

also can you show work