During the course of a year, the labor force consists of the same
Hello, Please explain.
During the course of a year, the labor force consists of the same
1,055 people. Of ;these,16 lack skills that employers desire and remain unemployed throughout the year. At the same ;time, every month during the ;year, 37 different people become ;unemployed, and 37 other people who were unemployed find jobs. There is no cyclical unemployment.
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Calculate the frictional unemployment rate.
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