6. Suppose that the labour force is currently 5.5 million and the unemployment rate is 11%....

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6. Suppose that the labour force is currently 5.5 million and the unemployment rate is 11%. On August 1, government announces that it will create 45,000 new jobs to be filled over the next three months. Only people who were unemployed on August 1 will be hired. As a result, 100,000 people immediately apply for the jobs; half of these people had previously not been actively seeking work. a. Has the labour force changed as a result of this announcement? b. The unemployment rate after the announcement but before the jobs are filled will be c. Once all the jobs are filled, the unemployment rate will be 6. Suppose that the labour force is currently 5.5 million and the unemployment rate is 11%. On August 1, government announces that it will create 45,000 new jobs to be filled over the next three months. Only people who were unemployed on August 1 will be hired. As a result, 100,000 people immediately apply for the jobs; half of these people had previously not been actively seeking work. a. Has the labour force changed as a result of this announcement? b. The unemployment rate after the announcement but before the jobs are filled will be c. Once all the jobs are filled, the unemployment rate will be

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Labor Force Changes and Unemployment Rate Calculations a Has the labour force changed as a result of ... View the full answer