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Suppose there are 12 million employed people and 0.72 million unemployed people. There are 4.5 million people who are not in the labour force. During
Suppose there are 12 million employed people and 0.72 million unemployed people. There are 4.5 million people who are not in the labour force. During the next month, 0.11 million people lose their jobs and 0.08 million find jobs. (Assume there are no new entrants into the labour force.)
- What is the new total of unemployed persons?
- What is the new total of employed persons?
- What is the new unemployment rate?
- What is the size of the labour force?
- What is the labour force participation rate?
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