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In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed or not in the labour force. Worker 1's wife is transferred to a branch of her bank in a new city, so Worker 1 leaves his job as a teacher to try to get a job at school in the new city. The contraction of the sugar industry idles cane cutters while the demand for IT workers remains unsatisfied. A global economic slump reduces Caribbean tourist traffic. Worker 2 is unable to find employment. Firm 1 buys out Firm 2 and lays off Firm's 1 administrative staff. As production processes become more sophisticated, people who leave school without CXC subjects are unable to find employment. Choose... Choose... Not in the Labour Force Frictional unemployment Structural unemployment Cyclical unemployment

In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed or not in the labour force. Worker 1's wife is transferred to a branch of her bank in a new city, so Worker 1 leaves his job as a teacher to try to get a job at school in the new city. The contraction of the sugar industry idles cane cutters while the demand for IT workers remains unsatisfied. A global economic slump reduces Caribbean tourist traffic. Worker 2 is unable to find employment. Firm 1 buys out Firm 2 and lays off Firm's 1 administrative staff. As production processes become more sophisticated, people who leave school without CXC subjects are unable to find employment. Choose... Choose... Not in the Labour Force Frictional unemployment Structural unemployment Cyclical unemployment

ECON MACRO
ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter7: Unemployment And Inflation
Section: Chapter Questions
Problem 1.3P
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In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed or not in the labour force. Worker 1's wife is transferred to a branch of her bank in a new city, so Worker 1 leaves his job as a teacher to try to get a job at school in the new city. The contraction of the sugar industry idles cane cutters while the demand for IT workers remains unsatisfied. A global economic slump reduces Caribbean tourist traffic. Worker 2 is unable to find employment. Firm 1 buys out Firm 2 and lays off Firm's 1 administrative staff. As production processes become more sophisticated, people who leave school without CXC subjects are unable to find employment. Worker 3 won the lottery and quit her job. She is not seeking a new job. Choose... Choose... Not in the Labour Force Frictional unemployment Structural unemployment Cyclical unemployment
Transcribed Image Text:In each of the following cases, classify the person as cyclically unemployed, structurally unemployed, frictionally unemployed or not in the labour force. Worker 1's wife is transferred to a branch of her bank in a new city, so Worker 1 leaves his job as a teacher to try to get a job at school in the new city. The contraction of the sugar industry idles cane cutters while the demand for IT workers remains unsatisfied. A global economic slump reduces Caribbean tourist traffic. Worker 2 is unable to find employment. Firm 1 buys out Firm 2 and lays off Firm's 1 administrative staff. As production processes become more sophisticated, people who leave school without CXC subjects are unable to find employment. Worker 3 won the lottery and quit her job. She is not seeking a new job. Choose... Choose... Not in the Labour Force Frictional unemployment Structural unemployment Cyclical unemployment
We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job. How many workers are employed? How many workers are unemployed? How many workers were in the labour force? How many workers are not in the labour force? Calculate the unemployment rate. Calculate the labour force participation rate. 96 Calculate the employment to population ratio. (using 1 decimal place)
Transcribed Image Text:We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job. How many workers are employed? How many workers are unemployed? How many workers were in the labour force? How many workers are not in the labour force? Calculate the unemployment rate. Calculate the labour force participation rate. 96 Calculate the employment to population ratio. (using 1 decimal place)
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We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job. How many workers are employed? How many workers are unemployed? How many workers were in the labour force? How many workers are not in the labour force? Calculate the unemployment rate. Calculate the labour force participation rate. 96 Calculate the employment to population ratio. (using 1 decimal place)
Transcribed Image Text:We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job. How many workers are employed? How many workers are unemployed? How many workers were in the labour force? How many workers are not in the labour force? Calculate the unemployment rate. Calculate the labour force participation rate. 96 Calculate the employment to population ratio. (using 1 decimal place)
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