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QUESTION
Following the recession of 2001 there was a month where total employment increased and the unemployment rate rose.
- Following the recession of 2001 there was a month where total employment increased and the unemployment rate rose. Assuming the computations were correct, how is it possible for both to have increased?
- Teenage unemployment is higher than unemployment of people ages 20 and over. Explain why economists would attribute at least part of this difference to minimum-wage laws.
- Since unemployment rates are consistently higher in Canada and some Western European coun- tries than in the United States, it appears that the natural rate of unemployment is lower in the United States. What might explain this difference?
