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Use the data from the table 3.12 in the Lecture Notes 2 to calculate how many people become unemployed during a typical month. How many

Use the data from the table 3.12 in the Lecture Notes 2 to calculate how many people become unemployed during a typical month. How many become employed? How many leave the labor force?

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Figure 3.12 Changes in employment status in a typical month NOT IN LABOR FORCE UNEMPLOYED 2% 95.3 million 25% 6.6 million 3% 5% 1% 28% EMPLOYED 155.2 million The arrows between two boxes represent changes from one employment status to another; the labels on the arrows show the fraction of the people in one status who switch to the other status in a typical month. For example, the arrow from the unemployed box to the employed box indicates that 28% of unemployed workers become employed the following month; the arrow from the employed box to the unemployed box indicates that 1% of employed workers become unemployed the following month. The numbers of people in each employment status are from March 2018

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