In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 100 million out of which 96 million were employed. In May 2006, the labor department determined that 1.0 million people became "discouraged workers" in April. Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April. Jobland unemployment rate in March = percent. (Enter your response rounded to one decimal place.) %3D Jobland unemployment rate in April = percent. (Enter your response rounded to one decimal place.)

In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 100 million out of which 96 million were employed. In May 2006, the labor department determined that 1.0 million people became "discouraged workers" in April. Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April. Jobland unemployment rate in March = percent. (Enter your response rounded to one decimal place.) %3D Jobland unemployment rate in April = percent. (Enter your response rounded to one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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