The Labor Department reported that hiring accelerated in November, and the unemployment rate fell to 8.6 percent

Question:

The Labor Department reported that hiring accelerated in November, and the unemployment rate fell to 8.6 percent from 9 percent in October. Two reasons for the fall are that more Americans got jobs, but even more people gave up on their job searches altogether. Explain how the labour force and unemployment would have changed if the only change were that:
a. All the newly hired people had been unemployed in October.
b. People gave up on their job searches.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question
Question Posted: