November Jobs Report

U.S. employers added 263,000 jobs in November as hiring remained sturdy. The unemployment rate held steady at 3.7% but the labor force participation rate edged down to 62.1%, leaving it well below the pre-pandemic level of 63.4%.—USA Today

Answer the following questions to check your understanding of the story.

What does the unemployment rate measure and how can it remain steady when jobs are added?

The unemployment rate measures the percentage of the ____________ that is unemployed. It can remain steady when jobs are added if ____________.

a) labor force; the number unemployed and the labor force increase by the same percentage

b) working-age population; the number unemployed and the labor force increase by the same percentage

c) labor force; all the new jobs are filled by the unemployed

d) working-age population; all the new jobs are filled by the unemployed

What does the labor force participation rate measure and how can it fall when jobs are added?

The labor force participation rate measures the percentage of the working-age population who are ____________. It falls when jobs are added if the working-age population increases by a larger percentage than the increase in the ____________.

a) employed; number employed

b) employed or unemployed; number employed

c) employed or unemployed; labor force

d) employed; labor force

November Jobs Report

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