Suppose employment is 139 million and unemployment is 9 million. Also, each month an average of 1.2 million unemployed quit looking for jobs, 1.6 million employed become unemployed, and 1.8 million new graduates start looking for jobs. If the average duration of unemployment is 3 months, what is the average number of unemployed becoming employed each month? (round to the nearest decimal in million) a. All of the answers here are incorrect b. 1.2 c. 1.8

Whats a possible explanation for the variations in unemployment over time and the variation in unemployment by age, gender, educational attainment, and race?

Unemployment rates have been higher in many European countries in recent decades than in the United States. Is the main reason for this long-term difference in unemployment rates more likely to be cyclical unemployment or the natural rate of unemployment? Explain briefly.

4. The following data is from the Bureau of Labor Statistics (BLS). (https://data.bls.gov/ timeseries/LNS14000000) Category Civilian noninstitutional population Civilian labor force Participation rate Employed Employment-population ratio Unemployed Not in labor force May 2022 263,679 164,376 62.3 158,426 60.1 5,950 99,302 a. Calculate the unemployment rate for May 2022. (show your work) Use the Bureau of Labor Statistics Website, to answer the next two questions (b and c). Looking at the last 10 years of data: b. What was the rate, month and year for the highest unemployment rate? c. What was the rate, month and year for the lowest unemployment rate?