In: Economics
The Bureau of Labor Statistics reported in December 2019, seasonally adjusted total nonfarm payroll employment increased by 320,000 to 278,888,000 and the unemployment rate decreased from 3.5 percent to 3.3 percent. About 1.6 million people were marginally attached workers and 375,000 of them were discouraged. a. Calculate the change in unemployment in December 2019. b. With 1,600,000 marginally attached workers and 375,000 of them discouraged workers, what are the characteristics of the other 1,225,000 marginally attached workers?