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In a particular economy, the labor force (the sum of employed and unemployed workers) is fored at 100 million. In this economy, each month 2%%
In a particular economy, the labor force (the sum of employed and unemployed workers) is fored at 100 million. In this economy, each month 2%% of the workers who were employed at the beginning of the month lose their jobs, and 18%% of the workers who were unemployed at the beginning of the month find new jobs. a. The January unemployment rate is 10.00% For the rates of job loss and job finding given, what will the unemployment rate be in February? 10:00 % (Enter your response as a percentage rounded to two decimal places.) For the rates of job loss and job finding given, what will the unemployment rate be in March? 10.00 % (Enter your response as a percentage rounded to two decimal places.) b. In April an adverse productivity shock raises the job loss rate to 4% of those employed. The job loss rate returns to 2%% in May, while the job finding rate remains unchanged at 18% throughout. Find the unemployment rate for April. 11.80 %%. (Enter your response as a percentage rounded to two decimal places.) Calculate the unemployment rate for May, after the job loss rate returns to 2% in May. The job finding rate remains unchanged at 18%% %%. (Enter your response as a percentage rounded to two decimal places )
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