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In February of 2020, before the pandemic, the US labor force was 164,546,000. Suppose the labor force was at that same level in February of
In February of 2020, before the pandemic, the US labor force was 164,546,000. Suppose the labor force was at that same level in February of 2021.What would that imply about the unemployment rate?That is, what would the unemployment rate be in February 2021 if the February 2021 labor force was 164,546,000 rather than 160,211,000, while February 2021 employment was still 150,239,000?Explain how you obtain your answer.
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