Q1. How might Salaries in the NFL change after a strong economic recovery? Use a labor...

Q1. How might Salaries in the NFL change after a strong economic recovery? Use a labor market model to justify your answer. Explain why the curves moved the way they did.

Expert Solution

The NFL is furloughing league employees and reducing salaries due to coronavirus

In a memo to employees, NFL Commissioner Roger Goodell said the league is not immune to the economic consequences of the coronavirus and he's made the difficult decision to take broad cost-saving measures across NFL offices that includes furloughs, salary cuts and a decrease in contributions to the pension plan.

"It is clear that the economic effects will be deeper and longer lasting than anyone anticipated and that their duration remains uncertain. The downturn has affected all of us, as well as our fans, our business partners, and our clubs," Goodell said.

The cuts outlined in the memo obtained by CNBC, include a furlough program for individuals who are unable to substantially perform their duties from home and/or whose current workload has been significantly reduced. The changes take effect beginning May 8.

"It's important to remember a furlough is not a termination. We do not know how long a furlough will last, but we are hopeful that we will be able to return furloughed employees back to work within a few months," Goodell said.

Rahul Sunny answered 7 months ago

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