Between 2001 and 2014, by how much did (A) the labor force change? (B) unemployment change? (C) employment change? Context: (in thousands) Year 2001- total population:285,545 Labor force: 143,734 Unemployment: 6,801 Year 2014- Total population: 318,563 Labor Force: 155,922 Unemployment: 9,617
Between 2001 and 2014, by how much did (A) the labor force change? (B) unemployment change? (C) employment change? Context: (in thousands) Year 2001- total population:285,545 Labor force: 143,734 Unemployment: 6,801 Year 2014- Total population: 318,563 Labor Force: 155,922 Unemployment: 9,617
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 30CTQ: Using the definition of the unemployment rate, is an increase in the unemployment rate necessarily a...
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Question
Between 2001 and 2014, by how much did
(A) the labor force change?
(B) unemployment change?
(C) employment change?
Context: (in thousands)
Year 2001-
total population:285,545
Labor force: 143,734
Unemployment: 6,801
Year 2014-
Total population: 318,563
Labor Force: 155,922
Unemployment: 9,617
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Step 1
Given:-
Data for 2001 and 2014
To determine:-
Labor force change, unemployment change and employment change=?
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