Question
Chapter 7 addresses unemployment.Unemployment includes economic costs to the broader society. An economy with high unemployment is like a company operating with a functional but
Chapter 7 addresses unemployment.Unemployment includes economic costs to the broader society. An economy with high unemployment is like a company operating with a functional but unused factory. The opportunity cost of unemployment is the output that the unemployed workers could have produced.
Unemployment is currently 6.7% (12/2020) nationwide and slightly higher in California.When discouraged workers, part-time workers, and marginally attached workers are taken into account, the unemployment rate jumps higher. It is especially high among teenagers, minorities, and older workers (50 years and up).
There are still millions of people out of work or working part-time when they would like to be working full-time. So fix it.What are your ideas for creating jobs and getting people back to work?
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