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Question

Using data for the country described in the table below:


Year 2000

Year 2020

Population (millions) 200 400

Labor Force (millions) 100 200

Number Employed (millions) 90 185

Number Unemployed (millions)

Unemployment Rate (percent)


a.      Determine the Number of Unemployed and the Unemployment Rate for each year by completing the table.

 

b.     Briefly explain why, in general, the unemployment rate might decline between two time periods, even if the number of unemployed workers goes up during the same time period.

Top Answer

The decline in unemployment rate occurs, because the total labor force... View the full answer

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