3. (5 points) Consider the following table that contains monthly gross flows and transition probabilities among the eligible population in the United States from February 2023 to March 2023. All numbers are in thousands. Based on this information, compute the following items below. You should include brief explanations/derivations for how you got your answer. Labor force status in Mar. 2023 Total Employed Unemployed Out of the labor force Row) Labor Employed 154,571 1,250 3,865 159,686 force status in Unemployed 1,730 3,291 1,443 6,464 Feb. Out of the labor force 4,346 1,497 93,883 99,726 2023 Total (column) 160,647 6,038 99,191 265,876 a) Incidence of unemployment among the employed 2 b) Probability of being unemployed for six consecutive months (assume that transition probabilities between labor force status between two consecutive months are the same as the ones above) c) The gross flow from employment to out of the labor force. d) Unemployment rate in March 2023 e) Labor force participation rate in February 2023