Contemporary Labor Economics
Contemporary Labor Economics
11th Edition
ISBN: 9781259290602
Author: Campbell R. McConnell, Stanley L. Brue, David Macpherson
Publisher: McGraw-Hill Education
Question
Book Icon
Chapter 1, Problem 2QS
To determine

Reason for scarcity of labours even though the economy is experiencing unemployment.

Blurred answer
Students have asked these similar questions
Roughly speaking, what fraction of U.S. labor works in factories? In service businesses? In government?
‌According to an article by the Wall Street Journal, the U.S. is at risk of running out of occupational therapists, railroad engineers, mathematicians, machinists and other workers. As a result, In the next 10 to 15 years, we expect U.S. employers to demand more labour than will be available, which will, in turn, constrain overall economic growth. On the top of that, U.S. president Donald J. Trump has put executive orders to ban nationals of selected countries from entering the U.S. Meanwhile, the top economic analysts and leaders believe that the country is going to strengthen and tighten its immigration polices to a much greater extent in the coming days. a) Referring to the above extract, briefly state in a line what do you think will happen to the U.S. labour market. b) With the help of appropriate diagrams, graphically show and briefly comment on what will happen to the U.S. real wage rate, labour hours and real GDP, due to the changes in the U.S. labour market that you stated in…
In June 2009, at the trough of the Great Recession, the Bureau of Labor Statistics announced that of all adult Americans, 140,196,000 were employed, 14,729,000 were unemployed, and 80,729,000 were not in the labor force. a) What was the size of the labor force in 2009? Show your work. b) What was the labor-force participation rate in 2009? Show your work. c) What was the unemployment rate in 2009? Show your work.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Micro Economics For Today
Economics
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Cengage,
Text book image
MACROECONOMICS FOR TODAY
Economics
ISBN:9781337613057
Author:Tucker
Publisher:CENGAGE L
Text book image
Economics For Today
Economics
ISBN:9781337613040
Author:Tucker
Publisher:Cengage Learning
Text book image
Survey Of Economics
Economics
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Cengage,