1. My friend Bill lost his job as a restaurant manager due to the Lockdowns last April. He has been receiving unemployment compensation for the last year. As of Jun 12, the compensation will come to an end. Bill is currently looking for a job. Assuming other people are in a similar position as Bill, what will happen to the following and why?(Be sure to thoroughly explain your reasoning)
2. The unemployment rate.
3. The labor force.
4. The labor force participation rate.