Question
In the following question, you will want to use the Bureau of Labor Statistics website. In answering the following questions, use seasonally adjusted data and
In the following question, you will want to use the Bureau of Labor Statistics website. In answering the following questions, use seasonally adjusted data and round your answers to three significant figures. Economists use the acronym NILF to refer to people who are not in the labor force. What was:
a. The fraction of men aged 25-34 who were NILF in December 2019?
b. The fraction of men aged 25-34 who were NILF in March 2007 (early in the year in which the Great Recession started)?
c. The fraction of women aged 25-34 who were NILF in December 2019?
d. The fraction of women aged 25-34 who were NILF in March 2007?
e. Why do you think that (b)-(a) is so different from (d)-(c)? (This is a question that is being actively debated by economists, so feel free to speculate.)
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