If the Labour Force Is 100 Million, There Are 95

question 49

Multiple Choice

If the labour force is 100 million, there are 95 million people employed, there are 98 million jobs that employers want occupied, then the number of vacancies is:

• A)5 million.
• B)3 million.
• C)2 million.
• D)none of the above.

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Definitions:

Long-run Unemployment

A situation where the unemployment rate persists at a high level for a long period of time, often due to structural changes in the economy.

Bureau of Labor Statistics

A U.S. government agency responsible for collecting and reporting data on employment, labor market activity, working conditions, and price changes.

Average Workweek

The average number of hours worked per week by employees in a specific sector or economy.

Natural Rate

The long-term rate of unemployment around which the job market is in balance, where all those willing to work at prevailing wage rates can find employment.