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24 June, 12:25

If the labor force of 155 million people is growing by 1.0 percent per year, how many new jobs have to be created each month to keep unemployment from increasing?

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  1. 24 June, 12:45
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    First let us compute for the total growth in population.

    Growth = 155 million * 0.01

    Growth = 1.55 million

    Since there are 12 months in a year, therefore the new jobs every month should be:

    new jobs per month = 1.55 million / 12

    new jobs per month = 0.129 million = 129,167
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