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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Under what condition would an increase in the unemployment rate be a positive sign?

To determine

The conditions under which an increase in unemployment will be considered as good for the economy are to be determined.

Explanation

Increase in unemployment rate means number of unemployed is increasing in work force, but this is not the case. Sometimes labors get discouraged and do not look for jobs. Hence, they will not be a part of the unemployed and labor force anymore. But if economy improves or due to any of their personal reasons they start looking for jobs, they are again counted as unemployed.

Suppose if the number of unemployed is 600 and total labor force is 800...

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