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Title: The city of Hope has a labor force of 1000. Twenty people lose their jobs each month and remain unem Post by: johnpaul92 on Jan 30, 2016 The city of Hope has a labor force of 1000. Twenty people lose their jobs each month and remain unemployed for exactly one month before finding jobs. On January 1, May 1, and September 1 of each year 50 people lose their jobs for a period of four months before finding new jobs.
(a) What is the unemployment rate in any given month? (b) How many unemployment spells are there in a year? (c) What is the average duration of an unemployment spell? (d) On any given date, how many people are undergoing short spells, and how many are undergoing long spells? Title: Re: The city of Hope has a labor force of 1000. Twenty people lose their jobs each month and remain Post by: supaman on Feb 4, 2016 Content hidden
Title: Re: The city of Hope has a labor force of 1000. Twenty people lose their jobs each month and remain unem Post by: johnpaul92 on Feb 13, 2016 Appreciate your help, thank you again
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