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Question 2. (20 points) The U.S. Bureau of Labor Statistics (BLS) conducts bi-monthly household surveys to measure labor force status in the United States. The survey provides a measure of employed people, such as nonfarm employment, hours, and earnings by industry. Data collected from this survey will be used to report and estimate employment levels and trends in the US. (1) The table as following provides us the employment situations in November 2021(11/2021) and November 2022 (11/2022). With the information given about adult population (Adult 16+), labor force (L), employed (E), calculate the values of unemployed (U), unemployment rate (UR) and labor force participation rate (LFPR) in the two periods. Also, use the data of 11/2021 and 11/2022 to show step-by-step solutions for U, UR, LFPR in the two columns. (2) Suppose economists have found current job separation rate (s) and job finding rate ( () in the US are 4% and 76%. Then how much is the current natural rate of unemployment of the US? (3) The natural rate of unemployment should be higher or lower than actual unemployment rate in an expansion (boom) and a recession (bust)? (4) Why job finding rate (f) is always lower than 1 (or 100\%)? And use one example to explain each of the factors may affect job finding rate. Question 2. (20 points) The U.S. Bureau of Labor Statistics (BLS) conducts bi-monthly household surveys to measure labor force status in the United States. The survey provides a measure of employed people, such as nonfarm employment, hours, and earnings by industry. Data collected from this survey will be used to report and estimate employment levels and trends in the US. (1) The table as following provides us the employment situations in November 2021(11/2021) and November 2022 (11/2022). With the information given about adult population (Adult 16+), labor force (L), employed (E), calculate the values of unemployed (U), unemployment rate (UR) and labor force participation rate (LFPR) in the two periods. Also, use the data of 11/2021 and 11/2022 to show step-by-step solutions for U, UR, LFPR in the two columns. (2) Suppose economists have found current job separation rate (s) and job finding rate ( () in the US are 4% and 76%. Then how much is the current natural rate of unemployment of the US? (3) The natural rate of unemployment should be higher or lower than actual unemployment rate in an expansion (boom) and a recession (bust)? (4) Why job finding rate (f) is always lower than 1 (or 100\%)? And use one example to explain each of the factors may affect job finding rate