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What would happen to current official measures of the unemployment rate and the labor force participation rate if the informal labor market were to collapse, and people engaged in associated informal work lost their positions? (Hint: Do the official measures take into account those who perform these types of informal work?)
What would happen to current official measures of the unemployment rate and the labor force participation rate if the informal labor market were to collapse, and people engaged in associated informal work lost their positions? (Hint: Do the official measures take into account those who perform these types of informal work?)
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