The following table, based on data from the Bureau of Labor Statistics, gives total nonfarm employment in
Question:
a. Calculate the change in nonfarm employment between October and November and between November and December.
b. Because new workers constantly enter the labor market, the economy must create approximately 150,000 jobs each month to keep unemployment constant, all other things being equal. What would you expect to have happened to the unemployment rate during November and December?
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Related Book For
Macroeconomics
ISBN: 9780132109994
1st Edition
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
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