A countrys labor force is the sum of the number of employedand unemployed workers. The
Chapter 3, Problem 15(choose chapter or problem)
A countrys labor force is the sum of the number of employedand unemployed workers. The accompanying table providesdata on the size of the labor force and the number of unemployedworkers for different regions of the United States. a. Calculate the number of workers employed in each of theregions in March 2007 and March 2008. Use your answersto calculate the change in the total number of workers employedbetween March 2007 and March 2008.b. For each region, calculate the growth in the labor forcefrom March 2007 to March 2008.c. Compute unemployment rates in the different regions ofthe country in March 2007 and March 2008.d.What can you infer about the rise in unemployment ratesover this period? Was it caused by a net loss in the numberof jobs or by a large increase in the number of people seekingjobs?
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