Report-unemployment data about population of superbcity

Reference no: EM133201451

Assignment:

Question 1

Look at the table below reporting unemployment data about the population of SuperbCity in 2001, 2011, 2021.

What is the size of the labour force in 2001, 2011, 2021?

How many were officially unemployed in 2001, 2011, 2021?

	2001	2011	2021
Unemployment Rate	5%	9.1%	4.96%
Labour Force Participation Rate	66.2%	64.2%	62.7%
Working-age Population	234M	238M	251M

Question 2

You are the human resource manager at a large organization. Each worker in your organization produces output valued at $15 per hour (ie. VMP = $15). You want to deter shirking and turnover by paying a deferred wage profile where the hourly wage is W = 4/5T, where T is tenure, or length of time that the person remains with the firm.

Draw the diagram of the deferred wage profile.

Solve for the breakeven point, or length of time the person would have to stay with the firm so that her wage would just equal their productivity.

Determine the length of time she would have to stay with the firm for her expected wage over that period to just equal her productivity (assume no discounting so that a dollar today is the same as a dollar in the future).

If the vast majority of the people start workiVMP age would you pick to provide a termination data to that contractual agreement?

Reference no: EM133201451

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