Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
How did current labor market in the United States change by covid?
Expert Solution
Step 1
The labour force is the total number of individuals looking for employment, including both employed and unemployed people. In February 2020, just before the COVID-19 epidemic began in the United States, the work force in the United States peaked at 164.6 million people.
According to Trading Economics global macro models and experts, the unemployment rate in the United States is anticipated to reach 59.00 percent by the end of this quarter. According to our econometric models, the United States Employment Rate is expected to trend around 61.00 percent in 2022.
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