Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 5, Problem 4SPA
To determine

Determine the changes in the labor force when the unemployment is constant.

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In January 2019, the U.S. economy added 302,000 new jobs. Yet the unemployment rate rose from 3.9% to 4.0%. How is this possible?
The OECD countries' unemployment rate has risen continuously since early 2020 before the COVID-19 pandemic hit the labor market. According to the statistics, the unemployment rate has increased drastically from Feb to July 2020.  Among the most affected countries are the United States (3.5% to 10.2%).   (i) give two unemployment challenges of the country.   (ii) what do you think can be the best solution to reduce the unemployment rate in the United States?
List and describe the 3 types of unemployment. Give an example of each.
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