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

1.2 percent of 155 million is 1,860,000. Divide that by 12 (for twelve months of the year) and get 155,000. That's the answer. 155,000.

Answer 2

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

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 = $\frac{1.2 \%}{12}=0.1 \%$ of 155 million

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

$=155 million\times \frac{0.1}{100}=0.155 million$

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