Rick lost his job as a logistics and distribution coordinator nearly three years ago.After a long and failed search,Rick finally gives up and stops looking for a new job.Rick's decision to suspend his job search causes the unemployment rate to ________ and the labor force participation rate to ________.

Question

Quizplus · Accepted Answer

Rick's decision to stop looking for a job means that he is no longer counted in the labor force, which leads to a decrease in the labor force participation rate. Since Rick is also not employed, he is counted as unemployed, leading to an increase in the unemployment rate.

Rick Lost His Job as a Logistics and Distribution Coordinator