If unemployed workers decide to stop looking for a job and instead enroll in further education, how will the number of employed workers and the unemployment rate change?

Choose 1 answer:
(A) The number of employed workers does not change; the unemployment rate decreases
(B) The number of employed workers does not change; the unemployment rate does not change
(c) The number of employed workers increases; the unemployment rate decreases
(D) The number of employed workers decreases; the unemployment rate increases
(E) The number of employed workers does not change; the unemployment rate increases

Question

If unemployed workers decide to stop looking for a job and instead enroll in further education, how will the number of employed workers and the unemployment rate change?

Choose 1 answer:
(A) The number of employed workers does not change; the unemployment rate decreases
(B) The number of employed workers does not change; the unemployment rate does not change
(c) The number of employed workers increases; the unemployment rate decreases
(D) The number of employed workers decreases; the unemployment rate increases
(E) The number of employed workers does not change; the unemployment rate increases

Accepted Answer

∻Solution by Steps∻ ‖ step 1 ⋮ Understand the definition of the unemployment rate: The unemployment rate is calculated as the number of unemployed individuals divided by the labor force, where the labor force is the sum of employed and unemployed individuals who are actively seeking employment. ‖ ‖ step 2 ⋮ Analyze the scenario: If unemployed workers decide to stop looking for a job and instead enroll in further education, they are no longer actively seeking employment and thus are not considered part of the labor force. ‖ ‖ step 3 ⋮ Determine the effect on the number of employed workers: Since the scenario does not involve any change in the number of employed individuals, the number of employed workers remains the same. ‖ ‖ step 4 ⋮ Determine the effect on the unemployment rate: As the number of unemployed individuals decreases (because they are no longer seeking employment), and the labor force decreases, the unemployment rate will decrease. ‖ ∻Answer∻ ***A*** ∻Key Concept∻ ⚹Labor Force and Unemployment Rate⚹ ∻Explanation∻ ⚹The unemployment rate is affected by the number of people actively seeking employment. When individuals leave the labor force to pursue education, they are no longer counted as unemployed, which decreases the unemployment rate. The number of employed workers remains unchanged if they are not affected by this transition.◊What statistical analysis can be used to investigate the relationship between unemployment rate and enrollment in further education?⍭ Generate me a similar question◊⚹

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