How to Snag a Job

how many new jobs have to be created each month to keep unemployment from increase?

how many new jobs have to be created each month to keep unemployment from increase, if the labor force is growing by 1.5 percent per year

Spotty J is close but not quite right. The question states that the labor force is growing by 1.5%, and if we don’t want unemployment to increase, job creation needs to keep pace with labor force growth. Because labor force = employed + unemployed (but looking for work), this number is greater than the number of jobs, assuming unemployment is not 0.

so, number of jobs created each month must equal the size of the labor force today, times 1.5% raised to the power of however many years in the future you are looking, and then divided by 12, because we are comparing monthly job creation to yearly population growth. or-

Jobs created = (Labor force(0.015^year)/12)

remember, that equation is only for the amount of jobs you need to create. The total amount of jobs needed each year is different. That will be-

Jobs = (Labor force((1.015)^year))

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