00:01
So here we're talking labor force statistics.
00:03
We have some data.
00:07
We have data on the adult population, which is 220.
00:12
We have data on the unemployed, which is 12.
00:17
And we have data on the employed, which is 135.
00:23
So for part one, we are now assuming that 4 million, right, become discouraged.
00:32
So when they become discouraged, what's going to happen? well, this, the adult population is still 220.
00:39
Becoming discouraged does not kill anyone.
00:42
The unemployed now go down to eight, because we are minus four discouraged.
00:48
Once you become discouraged and stop looking for work, you are no longer part of unemployed and you still don't have a job, right? people becoming discouraged does not increase the number of people with a job.
01:02
So for one, before the unemployment rate was equal to the number of people unemployed over the number of people unemployed plus the number of people employed...