Between January 2010 and January $2016,$ U.S. employment increased by 12.1 million workers, but the number of unemployed workers declined by only 7.3 million. How are these numbers consistent with each other? Why might one expect a reduction in the number of people counted as unemployed to be smaller than the increase in the number of people employed?
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The number of employed people refers to those who have jobs, while the number of unemployed people refers to those who are actively looking for a job but do not have one. The increase in employment by 12.1 million workers means that 12.1 million more people had Show more…
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