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6.Labor market questions (8 points) a.When a worker goes from being classified as unemployed, to dropping out of the labor force, what happens to the
6.Labor market questions (8 points)
a.When a worker goes from being classified as unemployed, to dropping out of the labor force, what happens to the unemployment rate? Why does this matter, and how does it explain the usefulness of the U-6 unemployment rate? Briefly explain.
b.Using the reading "Higher Education, Wages, and Polarization", how can the disappearance of the 'middle class' be explained in the reading? Specifically, how does education, and 'routine' jobs help explain the disappearance? Briefly Explain.
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