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.
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Related Book For
Microeconomics Canada In The Global Environment
ISBN: 9780321931184
9th Edition
Authors: Robin Bade, Michael Parkin
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