A countrys labor force is the sum of the number of employed and unemployed workers. The accompanying

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A countryʼs labor force is the sum of the number of employed and unemployed workers. The accompanying table provides data on the size of the labor force and the number of unemployed workers for different regions of the United States. 

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a. Calculate the number of workers employed in each of the regions in December 2018 and December 2019. Use your answers to calculate the change in the total number of workers employed between December 2018 and December 2019. 

b. For each region, calculate the growth in the labor force from December 2018 to December 2019.

c. Compute unemployment rates in the different regions of the country in December 2018 and December 2019.

d. What can you infer about the fall in unemployment rates over this period? Was it caused by a net gain in the number of jobs or by a large fall in the number of people seeking jobs?

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Macroeconomics

ISBN: 9781319245269

6th Edition

Authors: Paul Krugman, Robin Wells

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