The U-3 rate for February 2020 was 3.5%. The U-6 rate for February 2020 was 7.40% Based on the answers to the previous questions on the month of February 2020, what is the numerical difference between the U-6 measure of labor underutilization, and the U-3 unemployment rate?

The U-3 rate for February 2020 was 3.5%. The U-6 rate for February 2020 was 7.40% Based on the answers to the previous questions on the month of February 2020, what is the numerical difference between the U-6 measure of labor underutilization, and the U-3 unemployment rate?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 4QP

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Question

The U-3 rate for February 2020 was 3.5%. The U-6 rate for February 2020 was 7.40%

Based on the answers to the previous questions on the month of February 2020, what is the numerical difference between the U-6 measure of labor underutilization, and the U-3 unemployment rate?

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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