Question

If the labor force of 155 million people is growing by 1.2 percent per year, how many new jobs have to be created each month to keep unemployment from increasing?

Answer 1

Answer:0.155 million jobs have to be created each month to keep unemployment from increasing.

Step-by-step explanation:

Population of the labor force = 155 million

Percentage increase of labor force in an year = 1.2 % of 155 million

Percentage increase in labor force in a month =
`(1.2 \%)/(12)=0.1 \%` of 155 million

Jobs required to be created each month = population increase each month

`=155 million* (0.1)/(100)=0.155 million`

0.155 million jobs have to be created each month to keep unemployment from increasing.