The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Carlos recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training. Deborah just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. Janet is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Unemployment Type Frictional Cyclical Structural Total unemployment True Rate (Percent) 3.3 0.0 1.0 True or False: This economy is not currently at its natural rate of unemployment. False 4.3 Structural Frictional O Cyclical O OO

The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Carlos recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training. Deborah just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. Janet is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Unemployment Type Frictional Cyclical Structural Total unemployment True Rate (Percent) 3.3 0.0 1.0 True or False: This economy is not currently at its natural rate of unemployment. False 4.3 Structural Frictional O Cyclical O OO

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate unemployment rate and labor force participation rate for both 2019 and 2020 given the following information in 2019 there were 14,000 people employed 1000 people unemployed and 1200 people not in the labor force in 2020 the following event occurred 800 people who are looking for hired 600 people were fired from their jobs and only half started looking for a new job 200 people quit their jobs and not look for new 300 people who are not working decided to start looking 650 people retired and 200 people who were looking decided to stop looking due to lack of success
Question 1
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