Generally, labour market is positively associated with the economic performance. Hence,the implementation of Malaysia National Recovery Plan (NRP) has allowed someflexibility for economic and services activities to resume in line with the NRP's phases.This targeted strategy has brought some light for the labour market to recover progressively.With the permission for more business activities to reopen under Phase 1 along withtransitions of some states into Phase 3 and Phase 4, more labour market activities areforeseen in the upcoming months. Nonetheless, due to uncertain public health situation, thechallenges to the labour market may persist. On this note, collaboration and awareness ofthe whole nation comprising of individuals, community as well as business are crucial toensure heard immunity can be achieved, thus will be able to revive the country's economyand labour market.Q3Table Q3(a) shows the total population, labour force and total employment ofMalaysia in 2019, 2020 and 2021 (in thousands).(a)Table Q3(a): Malaysia total population, labour force and total employment201920202021Total populationLabour force1800018500187006834.17046.57527.9Total employment 6350.86621.06848.9(i)Calculate the unemployment rate for the years 2019, 2020 and 2021.

Year 2019 Labor force = 6834.1 thousands Total employment = 6350.8 thousands -------- Labor force =…

Answered: 2019 2020 2021 Total population Labour…

2019 2020 2021 Total population Labour force 18000 18500 18700 6834.1 7046.5 7527.9 Total employment |6350.8 6621.0 6848.9 (i) Calculate the unemployment rate for the years 2019, 2020 and 2021.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 4E

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