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4. (10 pt.) Hiring Boom Continues ...How many jobs were added in March 2024? Why has it been difficult for firms to fill job openings?

4. (10 pt.) Hiring Boom Continues ...How many jobs were added in March 2024? Why has it been difficult for firms to fill job openings? How many job openings are there for each unemployed worker? How fast have nominal wages increased over the past year? After adjusting for inflation calculate the change in real wages over the past year. Do wage increases of this magnitude keep inflation above the FED's target? Explain. What is the BLS formula for calculating the unemployment rate? What is the current unemployment rate? Why did the unemployment rate decrease in March? Explain.

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