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Take a look at employment during the pandemic on a year-over year basis in the chart attached. Which sector took the biggest hit in absolute
Take a look at employment during the pandemic on a year-over year basis in the chart attached. Which sector took the biggest hit in absolute and percentage terms over this period? Provide the figures. Does this outcome surprise you or is it what one would expect, given the nature of this labor force? Explain.
For this task on the economic way of thinking and economic indicators I have chosen data from the Kingdom of Bahrain; DPU has offered an MBA there for the past 20 years. Below you will find data on employment, wages, real GDP and inflation. I am going to ask you a series of questions that you will answer using these data and some of the essentials of the economic way of thinking. Some additional facts that you should know: . The Bahraini currency is the Bahraini dinar, or BD, and each dinar is worth $2.65. Workers' paychecks are subject to, essentially, no taxes. The total population of the island kingdom is roughly 1.7 million . Bahrainis dominate the public sector employment and the private sector is primarily comprised of ex-pats from India, Pakistan, Bangladesh and Philippines. Indicator 2020Q1 2020Q4 2021Q1 Total 743,620 687,700 685,204 Employment Bahraini 156,746 152,678 153757 Employment Non-Bahraini 586,874 535,022 531,447 Employment Monthly Wage, BD702 BD705 BD714 Public Sector Monthly Wage, BD441 BD447 BD455 Private Sector Real GDP in BD3.151 BD3.086 BD3.064 billions of BDs The inflation rate in Bahrain between 2020Q1 and 2021Q1 (year-over-year) was 2.7%; obviously prices fell in general. Lastly, like the U.S., Bahrain was hit by the Covid-19 pandemic during this periodStep by Step Solution
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