Indicate what happens to the unemployment rate and the employment–population ratio in each of the following scenarios. Many previously laid-off workers find jobs in new startup firms as the economy expands
After an unsuccessful search, some laid-off workers quit looking for new jobs.
As a result of an economic boom, many students drop out of school and start working as soon as they become adults.
A stock market crash leads to large-scale lay-offs of workers aged 55 and above, who decide to retire instead of looking for new jobs.