Question

4. Explain the changes from year 1 to year 2. We have seen a decrease in the unemployed rate, but no change in the adult population and a decline in the number of people in the labor force. This decline could be because few people who were a part of the labor force in year one might have retired or would not have been looking for jobs actively. The reduction in the number of people in the labor force resulted in a decrease in employed people, which affects the unemployed rate and labor force participation

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Answer 1

as Unemployment rate is defined no.ch unemployed people Total laber force (employed) Labor force is defined as the ones who are in a job or not employed but are actuely seeking for a job Every year laker force changes force changes because of some people who retire and move out and some labor force younger people who at have now started to look for a job of Scanned by TapScanner

and are considered in labor force now This is what happened from year 1 to 2, we saw decline in unemployment rate because of the decline in labor force Scanned by TapScanner

Date Page • This decline in labor force led to two changes: few people who were were a a part of labor force retired, of have now not been looking for job This makes unen employed HAPE redures unemployed people, employed people, and this we see unemploymen decreases . ent rate Scanned by TapScanner