if Theraland had a job finding rate of 4% and a steady-state natural rate of unemployment of 10% what would the job separation rate be ? %
A flu has hit the mministry of labor of theraland, incapacing the economist who usually calculate unemployment figures for the country, you have been recruited to fill in for them. each row in the table below represents a separate scenario of concern to the ministry. Fill in the table, assuming for each scenario that the economy in theraland is in stedy state.
If there were 2 million unemployed Theralanders and Theraland had a job-finding rate of 15% per month, how many people would lose jobs each month?
If the job-finding rate were 4% per month, what would the average duration of unemployment be?