3. Labor market Consider Figure 7.10 which shows the unemployment rate and employment-population ratio before, during, and after the financial crisis and Great Recession of 2007-2009. Note that between 2009 and 2014, the unemployment rate fell but the employment-population ratio was more or less the same. Explain why this occurred. Figure 7.10 12.0 64.0 63.0 10.0 62.0 Unempioymert rate Employmert- populationratio 8.0 61.0 60.0 6.0 59.0 4.0 58.0 57.0 2.0 56.0 0.0 55.0 2002 2003 2005 2006 2008 2009 2011 2012 2014 2015 2017 2018 Unemployment rate (percent) Employment-population ratio (percent)
3. Labor market Consider Figure 7.10 which shows the unemployment rate and employment-population ratio before, during, and after the financial crisis and Great Recession of 2007-2009. Note that between 2009 and 2014, the unemployment rate fell but the employment-population ratio was more or less the same. Explain why this occurred. Figure 7.10 12.0 64.0 63.0 10.0 62.0 Unempioymert rate Employmert- populationratio 8.0 61.0 60.0 6.0 59.0 4.0 58.0 57.0 2.0 56.0 0.0 55.0 2002 2003 2005 2006 2008 2009 2011 2012 2014 2015 2017 2018 Unemployment rate (percent) Employment-population ratio (percent)
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 6WNG
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