Labor Supply & Demand South Carolina’s Unemployment Rate Student name

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Presentation transcript:

Labor Supply & Demand South Carolina’s Unemployment Rate Student name March 25, 2009

South Carolina Statistics Unemployment rate 10.4% 135,000 Unemployed Collect $20 million a week “The employment commission reported South Carolina had 42,800 fewer jobs in January compared with December, when the rate was 8.8%.”-Associated Press , Augusta Chronicle

(Billions of hours per year) Real Wage Rate (2000 Dollars per hour) LS Labor (Billions of hours per year) Equilibrium wage Rate New Equilibrium wage Rate LD1 LD2 Equilibrium Labor New Equilibrium Labor

(Billions of hours per year) Real Wage Rate (2000 Dollars per hour) LS Labor (Billions of hours per year) 10% unemployment 8% unemployment LD2

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