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In a given community, the unemployment rate is 9% and their working-age population is 2.5 Million in December of 2009. Labor force participation was ?8%
In a given community, the unemployment rate is 9% and their working-age population is 2.5 Million in December of 2009. Labor force participation was ?8% in this community in December of 2009. In January 2010. this community takes in 120,000 refugees, 95,000 of which are working-age adults. All working-age refugees will be looking for a job in January and if they cannot nd one will continue to look until they do. 35% of the working-age refugees start a new job in January. Assuming nothing no other changes to the labor force and unemployment, what will be the Unemployment rate in this community on February lst? ( Please round your answer to include 2 decimal places, do not include the percent sign in the answer. That is, If you nd 8.3333396 is the new unemployment rate, input your answer as 8.33)
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