What explains the sharp decrease in the unemployment rate in the United States in 2009?
I've been given the following table and asked to calculate the empty cells. After calculating the unemployment rates, I found out that the sharpest change in the unemployment rate was experienced in 2009.
I need help to answer the following question:
b) In which year did the economy witness the sharpest change in the unemployment rate? What might explain this?
I understand the recession of 2008 - 2009 plays a major role in the decrease in unemployment rate, but what other factors are at play?
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