Consider Table 610 of the 2008 U.S. Statistical Abstract. (a) How many workers aged 20 or older

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Consider Table 610 of the 2008 U.S. Statistical Abstract.
(a) How many workers aged 20 or older were unemployed in the United States during 2006? How many of these were unemployed less than 5 weeks, 5 to 14 weeks, 15 to 26 weeks, and 27 or more weeks?
(b) Assume that the average spell of unemployment is 2.5 weeks for anyone unemployed for less than 5 weeks. Similarly, assume the average spell is 10 weeks, 20 weeks, and 35 weeks for the remaining categories. How many weeks did the average unemployed worker remain unemployed? What percent of total months of unemployment are attributable to the workers that remained unemployed for at least 15 weeks?
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Labor Economics

ISBN: 978-0073523200

6th edition

Authors: George J. Borjas

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