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Hello, I am having a hard time understanding this question. In 2018, the United States' unemployment rate had fallen to 4.3% (the lowest level since
Hello, I am having a hard time understanding this question.
- In 2018, the United States' unemployment rate had fallen to 4.3% (the lowest level since 1970). Often economists might claim that "full employment" (all individuals who are willing and able to work) corresponds to a 5% unemployment rate or higher.How or what could you prove such a level of unemployment if 5% of the US labor force translates to 7 million unemployed workers? Using at least one scholarly resource to back up your rationale, justify how the economy can be at "full employment" force if 7 million workers are unemployed?
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