What were the average real hourly wage and employment rates in 1979 and 1995 in the retail trade and mining and logging industries? What were the percentage changes in the wage rate and employment for both industries? On the basis of the changes in wages and employment, what can you infer about the relative size of the changes in labor demand and labor supply?

What are the average real hourly wages and employment rates for the most recent month shown in the retail trade and mining and logging industries? What were the percentage changes between 1995 and the most recent month for the wage rate and employment for both industries? On the basis of the changes in wages and employment, what can you infer about the relative size of the changes in labor demand and labor supply?

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Introduction Analyzing trends in average real hourly wages and employment rates across different industries provides valuable insights into changes in ... View the full answer