Explain how the unemployment rate and the labor force participation rate would change.

Economics Question

The answers to the following questions are included in Ch.15.

1. Listen to Friday, March 10th news from the announcement of unemployment rate for March 2023. This official news needs to come from the US Bureau of Labor Statistics.  (1 pt.)

 

2.

• A) Define what are the 4 types of unemployment? (4 pts.)
• B) Provide an example for each type of unemployment (2 pts.)

 

3. The Bureau of Labor Statistics does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed.

• Define a discouraged worker;   (1 pt.)
• Explain how the unemployment rate and the labor force participation rate would change.   (1 pt.)

 

4. Even if an economy experiences full-employment, does it mean that in the economy, everyone has a job? why or why not? (1 pt.)