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Chapter 8: Q 39 (page 215)

Under what condition would an increase in the unemployment rate be a positive sign?

Short Answer

Expert verified

Unemployment rate depicts percentage of individuals unemployed in total labor force.

Step by step solution

01

Step 1. Introduction

Unemployment rates do fluctuate over time. There are different reasons causing unemployment in economy. A condition is said to be positive under two conditions:

02

Step 2. Introduction of new jobs

When a firm or government is doing good and demand of the product is increased. They need to increase their supply so when government or a firm introduces new jobs, opportunities or industries indicate that economy is doing good and shows a positive sign .

03

Step 3. Reentering of discouraged workers

When discouraged workers become hopeful and tart looking for jobs again which will eventually result in decrease of unemployment rate and this unemployment rate is good for economy. This is a positive sign as it is showing reentering of workers in labor, which indicates that more job opportunities are introduced.

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Most popular questions from this chapter

What happens to the labor force participation rate when employed individuals are reclassified as unemployed? What happens when they are reclassified as discouraged workers?

Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say 10%, versus low, say 4%? Explain.

What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?

Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?

Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?
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