december december 2021 2022 w.a. pop. L.F. L.F.P.R. 250 160 64 200 50 16 to 64 pop 65 and up pop 16 to 64 LFPR 16 to 64 labor Force 65 and up LFPR 65 and up labor force 75 150 20 10 Employed level Unemployed level Unemployment rate 152 8 5.0% The data contained in the table above describes the U.S. labor market circumstances, 12/2021. Two economists, one optimist and one pessimist, are advising President Biden concerning plans to stimulate job growth. The Jobs Market in 2022, According to Dr. Pessimist: Population will grow slowly, 0.4%, reflecting no flow from net immigration. Moreover, 100% of the growth in total population will occur in the 65 and over age cohort. Participation rates will stay steady for both age cohorts (16 to 64 and over 65). Monetary policy will successfully engineer a 4.5% unemployment rate, for December 2022. Use these inputs, in the spreadsheet above, and calculate the growth in jobs over the 12 months, if Dr. Pessimist is correct join all of his assumptions. The Jobs Market in 2022, According to Dr. Optimist: Population growth will accelerate, registering 1% over the year, due to a jump in immigration. Immigration gains will explain 60% of the total rise for population. And all of these gains willk occur in the 16 to 64 cohort. The remainder, 40% of the rise, will occur in the 065 and over cohort. The 16 to 64 LFPR will jump amid a strong labor market, rising to 80 Finally, monetary policy, betting that inflation risks are low, will successfully engineer a 3.5% unemployment rate, for December 2022. Use these inputs, in the spreadsheet above, and calculate the growth in jobs over the 12 months, if Dr. Optimist is correct december december 2021 2022 w.a. pop. L.F. L.F.P.R. 250 160 64 200 50 16 to 64 pop 65 and up pop 16 to 64 LFPR 16 to 64 labor Force 65 and up LFPR 65 and up labor force 75 150 20 10 Employed level Unemployed level Unemployment rate 152 8 5.0% The data contained in the table above describes the U.S. labor market circumstances, 12/2021. Two economists, one optimist and one pessimist, are advising President Biden concerning plans to stimulate job growth. The Jobs Market in 2022, According to Dr. Pessimist: Population will grow slowly, 0.4%, reflecting no flow from net immigration. Moreover, 100% of the growth in total population will occur in the 65 and over age cohort. Participation rates will stay steady for both age cohorts (16 to 64 and over 65). Monetary policy will successfully engineer a 4.5% unemployment rate, for December 2022. Use these inputs, in the spreadsheet above, and calculate the growth in jobs over the 12 months, if Dr. Pessimist is correct join all of his assumptions. The Jobs Market in 2022, According to Dr. Optimist: Population growth will accelerate, registering 1% over the year, due to a jump in immigration. Immigration gains will explain 60% of the total rise for population. And all of these gains willk occur in the 16 to 64 cohort. The remainder, 40% of the rise, will occur in the 065 and over cohort. The 16 to 64 LFPR will jump amid a strong labor market, rising to 80 Finally, monetary policy, betting that inflation risks are low, will successfully engineer a 3.5% unemployment rate, for December 2022. Use these inputs, in the spreadsheet above, and calculate the growth in jobs over the 12 months, if Dr. Optimist is correct