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

2. 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

3. (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

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