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fSuppose that the labour force is currently 5 million and the unemployment rate is 12%. On August 1, government announces that it will create 50,000
\fSuppose that the labour force is currently 5 million and the unemployment rate is 12%. On August 1, government announces that it will create 50,000 newjobs to be lled overthe next three months. Only people who were unemployed on August 1 will be hired. As a result, 100,000 people immediately apply for the jobs; half of these people had previously not been actively seeking work. a. Has the labour force changed as a result of this announcement? C;- Yes, the labour force has changed as a result ofthis announcement. C) No. the labour force has not changed as a result otthis announcement. b. The unemployment rate afterthe announcement but before thejobs are lled will be|:| %. Enter your responses rounded to one decimal place. c. Once all the jobs ate lled, the unemployment rate will be |:|%
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