Answered: Between 2000 and 2016 by how much did…

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Between 2000 and 2016 by how much did the labor force change? unemployment change? employment change?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 15RQ: What criteria do the BLS use to count someone as employed? As unemployed?

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Question

Between 2000 and 2016 by how much did

the labor force change?

unemployment change?

employment change?

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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