Suppose that at the beginning of the month, the number employed, E, equals 120 million; the number
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Suppose that at the beginning of the month, the number employed, E, equals 120 million; the number not in the labor force, N, equals 70 million; and the number unemployed, U, equals 10 million.
During the course of the month, the flows indicated in the following table occurred.
Assuming that the population has not grown, calculate the unemployment and labor force participation rates at the beginning and end of the month.
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To make the calculations easier we can drop the millions terms The initial unemployment rate is 100 ...View the full answer
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Related Book For 
Modern Labor Economics Theory And Public Policy
ISBN: 9780132540643
11th Edition
Authors: Ronald Ehrenberg, Robert Smith
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