Computation of job losses/displacement in an economy
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Assume an economy with steady-state unemployment. the separation rate is 2.5% per month and the finding rate is 47.5% per month. the adult population is 120 million workers and the labor-force participation rate is two-thirds how many workers lose jobs each month?
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Solution Summary
This is a computation of job losses in an economy with steady-state unemployment.
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Given:
Monthly separation rate= 2.5%
Monthly finding rate= 47.5%
Adult population= 120 million workers
Labor force ...
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