Explain how the number of unemployed to be less

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Between 2003 and 2004, U.S. employment increased by 1.5 million workers, yet the number of unemployed workers fell by only 0.6 million. Can these numbers be consistent with each other? Why might we expect the reduction in the number of unemployed to be less than the increase in the number of employed?

Reference no: EM13236022

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