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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 29
Economics in the News
Out of a Job and Out of Luck at 54
Too young to retire, too old to get a new job. That's how many older workers feel after getting the pink slip and spending time on the unemployment line. Many lack the skills to craft resumes and search online, experts say. Older workers took an average of 21.1 weeks to land a new job in 2007, about 5 weeks longer than younger people. "Older workers will be more adversely affected because of the time it takes to transition into another job," said Deborah Russell, AARP's director of workforce issues.
a. What type of unemployment might older workers be more prone to experience?
b. Explain how the unemployment rate of older workers is influenced by the business cycle.
c. Why might older unemployed workers become marginally attached or discouraged workers during a recession?
Out of a Job and Out of Luck at 54
Too young to retire, too old to get a new job. That's how many older workers feel after getting the pink slip and spending time on the unemployment line. Many lack the skills to craft resumes and search online, experts say. Older workers took an average of 21.1 weeks to land a new job in 2007, about 5 weeks longer than younger people. "Older workers will be more adversely affected because of the time it takes to transition into another job," said Deborah Russell, AARP's director of workforce issues.
a. What type of unemployment might older workers be more prone to experience?
b. Explain how the unemployment rate of older workers is influenced by the business cycle.
c. Why might older unemployed workers become marginally attached or discouraged workers during a recession?
Explanation
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b) Older workers might be more likely to...
Macroeconomics 11th Edition by Michael Parkin
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