Let’s assume that a country in the Caribbean reports the following labour statistical data to its citizen in 2011. Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 For each of the following scenarios, state whether the unemployment is frictional, structural or cyclical. Justify your answer. (a) Ted lost his job when the steel mill closed down. He lacks the skills to work in another industry and so has been unemployed over a year. (b) Gwen had a job as a clerk but quit when her husband was transferred to another state. She looked for a month before finding a new job that she liked.
Let’s assume that a country in the Caribbean reports the following labour statistical data to its citizen in 2011. Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 For each of the following scenarios, state whether the unemployment is frictional, structural or cyclical. Justify your answer. (a) Ted lost his job when the steel mill closed down. He lacks the skills to work in another industry and so has been unemployed over a year. (b) Gwen had a job as a clerk but quit when her husband was transferred to another state. She looked for a month before finding a new job that she liked.
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 2P
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Let’s assume that a country in the Caribbean reports the following labour statistical data to its citizen in 2011.
Labour force: 140,200
Individuals under 16 years: 12,400
Employment: 132,700
Imprisonment: 980
Working age population: 210,900
Armed forces: 18,600
For each of the following scenarios, state whether the
(a) Ted lost his job when the steel mill closed down. He lacks the skills to work in another industry and so has been unemployed over a year.
(b) Gwen had a job as a clerk but quit when her husband was transferred to another state. She looked for a month before finding a new job that she liked.
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