Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 100 million out of which

image text in transcribed
In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 100 million out of which 92 million were employed. In May 2006, the labor department determined that 1.5 million people became "discouraged workers" in April. Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April. Jobland unemployment rate in March = percent. (Enter your response rounded to one decimal place.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics and Behavior

Authors: Robert Frank

9th edition

9780077723750, 78021693, 77723759, 978-0078021695

Students also viewed these Economics questions

Question

Be honest, starting with your application and rsum.

Answered: 1 week ago