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During the course of a year, the labor force consists of the same 1 comma 025 people. Of these, 18 lack skills that employers desire and hence remain unemployed throughout the year. At the same time, every month during the year, 24 different people become unemployed, and 24 other different people who were unemployed find jobs. There is no cyclical unemployment. a.)Calculate thr frictional unemployment rate % (rounded to two decimal places)b.) Calculate the unemployment rate % (rounded to two decimal places)
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During the course of a year, the labor force consists of the same 1 comma 025 people. Of these, 18 l...
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