In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 102 million out of which 94 million were employed. In May 2006, the labor department determined that 1.5 million people became "discouraged workers" in April. Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April. Jobland unemployment rate in March = percent. (Enter your response rounded to one decimal place.)
In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 102 million out of which 94 million were employed. In May 2006, the labor department determined that 1.5 million people became "discouraged workers" in April. Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April. Jobland unemployment rate in March = percent. (Enter your response rounded to one decimal place.)
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 7WNG
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Transcribed Image Text:In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 102 million out of which
94 million were employed. In May 2006, the labor department determined that 1.5 million people became "discouraged workers" in April.
Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April.
Jobland unemployment rate in March =
percent. (Enter your response rounded to one decimal place.)
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