6 Chrome File Edit View . v benefits administratio C ; ng.cengage.com' laida v My Home Courses Catalog and Study Tools Rental Options 13 College Success Tips Study Hacks ps on Dealing With Give Feedback . o I. History Bookmarks Proles Tab Window Help Q Q Q - SatMay76122PM X it administrative assista X H\" Extra Credit Material , X MindTap - Cengage Li X c Phelps Was Suspicioi X c Phelps Was Suspicioi X + 'CENGAGE I MINDTAP News Analysis: Is the Phillips Curve a Myth? Picture an economy with 100,000 workers in its labor force. The unemployment rate is simply the number of unemployed workers divided by the number of workers in the labor force. At the beginning of January, the unemployment rate is 4.76%, so 4,760 people in the labor force are unemployed. Suppose that in January, 10% of the workers who were unemployed at the beginning of the month start new jobs. This means that 476 v people leave the unemployment category in January. Suppose that in January the job separation rate equals 2%. That is, 2% of the people who were employed at the beginning of the month are laid off or quit. This means 95,240 7 people are added to the unemployment category that month. (Hlnt: Round your answer to the nearest whole number) Assume the size of the labor force does not change from January to February. Considering that the job separation rate is 2% during January, and 10% of unemployed workers nd new jobs, the unemployment rate at the beginning of February will be approximately V .(Hint: Round your answer to the nearest hundredth.) Generalizing from your calculations for January, if in February, the job separation rate is 2%, and 10% of unemployed workers get jobs, the unemployment rate at the end of February will V . Suppose that at the beginning of August, the unemployment rate is 4.76%, however, this month just 0.2% of the employed workers become unemployed. Suppose that in August, 10% of the workers who were unemployed at the beginning of the month nd new jobs. The unemployment mte be at the beginning of September will be v . (Hlnt: Round your answer to two decimal places.) Now suppose that In September, the job separation rate returns to normal: 2% of the workers who were employed at the beginning of the month become unemployed. As always, 10% of the workers who are unemployed nd jobs during the month. I I] J Q Search this course 0X 6 Chrome File Edit View History Bookmarks Proles Tab Window Help Q Q Q - Sat May7 6:22 PM . v benefits administratic X it administrative assista X Ii\" Extra Credit Materialr X MindTap-Cengage Li X c Phelps WasSuspicioi X c Phelps Wassuspicioi X + C ; ng.cengage.com' ' ' . ~ wand ' ' . *- [I J Jaida V o':CENGAGE I MINDTAP Q Search this course My Home News Analysis: Is the Phillips Curve a Myth? 0 x Courses Suppose that in January, 10% of the workers who were unemployed at the beginning of the month start new jobs. This means that 476 V people leave the unemployment category in January. Catalog and Study Tools Rental Options Suppose that in January the job separation rate equals 2%. That is, 2% of the people who were employed at the beginning of the month are laid off or quit. This means 95,240 V people are added to the unemployment category that month. (Hint: Round your answer to the nearest whole number.) )3 College Success Tips Assume the size of the labor force does not change from January to February. Considering that the job separation rate is 2% during January, and 10% of unemployed workers nd new jobs, the unemployment rate at the beginning of February will be approximately 7 .(Hlnt: Round your answer to the nearest hundredth.) Generalizing from your calculations for January, if in February, the job separation rate is 2%, and 10% of unemployed workers get jobs, the unemployment rate at the end of February will 7 . Study Hacks ps on Dealing With Suppose that at the beginning of August, the unemployment rate is 4.76%, however, this month just 0.2% of the employed workers become unemployed. Suppose that in August, 10% of the workers who were unemployed at the beginning of the month nd new jobs. The unemployment rate be at the beginning of September will be v . (Hint: Round your answer to two decimal places.) Give Feedback Now suppose that in September, the job separation mte returns to normal: 2% of the workers who were employed at the beginning of the month become unemployed. As always, 10% of the workers who are unemployed nd jobs during the month. In the last question, you calculated a lower unemployment rate for the beginning of September. Use the numbers of employed workers and unemployed workers implied by this unemployment rate to calculate how many employed workers become unemployed during September and how many unemployed workers nd jobs during September. The unemployment rate at the end of September is