In May there are 6,000 people classified as unemployed and the size of the labor force is 80,000 Between May and June two events take place i) 1000 graduates join the labor force and start looking for work, ii) 1000 of the unemployed people get discouraged and stop looking for work A Calculate the ...

Unemployment Rate Calculations A Unemployment Rate in May Labor Force 80000 Unemplo ...

In May there are 6,000 people classified as unemployed and the size of the labor force is

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In May there are 6,000 people classified as unemployed and the size of the labor force is 80,000. Between May and June two events take place: i) 1000 graduates join the labor force and start looking for work, ii) 1000 of the unemployed people get “discouraged” and stop looking for work.

A. Calculate the unemployment rate in May.

B. Assuming that the 1000 graduates have not found jobs by June, what is the unemployment rate in June?

C. Assuming that the 1000 graduates do find jobs by June, what is the unemployment rate in June?

Related Book For answer-question

Statistical Techniques in Business and Economics

ISBN: 978-1259666360

17th edition

Authors: Douglas A. Lind, William G Marchal

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Posted Date: Feb 23, 2024 05:27 AM

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In May there are 6,000 people classified as unemployed and the size of the labor force is

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