April Jobs Report Understates What Was Actually Lost: Economist Swonk

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Business, Health Sciences, Social Studies, Life Skills, Biology
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University
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Hard
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was one of the main reasons for the underestimation of small business losses in April?
The virtual standstill of new firm formation
Increased government support
High consumer spending
Inaccurate data collection methods
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How did many companies manage to preserve jobs during the economic downturn?
By increasing employee wages
By offering more benefits
By reducing working hours to part-time
By hiring more full-time staff
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which sector surprisingly experienced significant job losses during the pandemic?
Agriculture
Manufacturing
Healthcare
Technology
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a major reason for the decline in healthcare jobs during the pandemic?
Increased demand for elective surgeries
Closure of dental offices and reduced doctor visits
Expansion of hospital services
Rise in telemedicine
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which group faced a disproportionate impact from the economic downturn?
Young professionals
Minorities and women
Retirees
Entrepreneurs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was a significant factor contributing to the higher unemployment rate among those with less than a high school degree?
Reduction in labor force participation
Higher educational attainment
Government intervention
Increased job opportunities
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What challenge do women face in rejoining the workforce post-pandemic?
Higher educational requirements
More competitive job market
Increased childcare responsibilities
Lack of job opportunities
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