Suppose the government decided that homemakers should be counted as employed because they perform important services. How do you think this change would affect our measure of the labor force, the labor force participation rate, and the unemployment rate?

Question

Business

Aleena Francis

5 May, 08:24

Suppose the government decided that homemakers should be counted as employed because they perform important services. How do you think this change would affect our measure of the labor force, the labor force participation rate, and the unemployment rate?

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Answers (1)

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Briley Walters · Answer 1

The labor force and the labor force participation rate would increase and the unemployment rate would decrease.

Explanation:

The rate of unemployment is characterized as the share of the total workforce unemployed. Employment rates are characterized as the degree to which labor resources are available. Once the government decided to recognize homemakers as workers as they provide important facilities, the labor force and employment rate would rise and the rate of unemployment would fall.

so, the above answer is correct.