Homework Answers
Answer: There is an increase in population
Unemployment Rate = (Total number of unemployed people / Labor Force) * 100
Labor Force = Number of employed people + Number of unemployed people
All else equal, if there is an increase in population, the number of people looking for job will rise. If job is not created, i.e., if demand for labor remains constant, the number of unemployed people will rise with the increase of population. As a result, the unemployment rate will rise.
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