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O 11 . Problems and Applications QS Economists use labor-market data to evaluate how well an economy is using its most valuable resource-its people. Two closely watched statistics are the unemployment rate and the employment-population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment-population ratio in each of the following scenarios. Effect On... Employment-Population Scenario Unemployment Rate Ratio An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs. After a long search, some laid-off workers find new Jobs. As a result of an economic boom, many students drop out of school and start working as soon as they become adults. A stock market crash leads to large-scale lay-offs of workers aged 55 and above, who decide to retire instead of looking for new jobs. Grade It Now Save & Continue