Use the following data on the labor force in thousands of people in the United States and in New Jersey to answer question.

What are the growth rates of the United States and New Jersey labor forces?

Does the linear model or the exponential trend model give a faster growth estimate?

Transcribed Image Text:

Year 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 Labor Force United States 82,771 84,382 87,034 89,429 91,949 93,775 96,158 99,009 102,251 104,962 106,940 108,670 110,204 111,550 113,544 115,461 117,834 119,865 121,669 123,869 New Jersey 2,996 3,012 3,117 3,190 3,226 3,264 3,318 3,383 3,457 3,570 3,594 3,593 3,632 3,673 3,825 3,839 3,908 3,966 3,975 3,989