Difference between frictional and structural unemployment

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Reference no: EM133295141

Assignment:

Unemployment

1. Suppose, out of the adult population (civilian, non-institutionalized), the US has 140 million who are each of these: employed, 14 million who are unemployed, and 80 million who are not in the labor force. Calculate

a. The labor force

b. the labor force participation rate

c. the unemployment rate

2. In each case, what would happen to the unemployment rate and the labor force participation rate:

a. After searching for months, Jerry finds a job.

b. Summer, a full-time college student, graduates and is employed immediately.

c. After an unsuccessful job search, Morty gives up looking and retires.

d. Beth quits her job and becomes a stay-at-home mom.

e. Rick, who has been retired for years, dies.

d. Krompobulos dies while working.

3. Explain the difference between frictional and structural unemployment and give an example of each.

Reference no: EM133295141

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