In terms of job creation, the United States, because of its vast size and abundant natural. resources have the greatest advantage in establishing many companies and industries. Strong economic policies in the United States have also helped expand the labor market, created more jobs, and responded well to the financial crisis.

please summarize and rewrite the answers i got from the internet, Don’t miss any important economic points

questions:
1. (20 pts) Please use your economics theory knowledge to explain why there was a huge increase in the labor supply in Alaska from 1976 to 1977?
2. (36 pts) Compared with unemployment rate, employment rate is often believed to be a better measure of the labor market. Please explain why it is better. On the other hand, employment rate also has its limitation. Please explain its limitation.
3. (20 pts) Please explain why US has a general higher labor force participation rate than European countries.

answers i got from the internet:
Q1:
Because Alaska has too few native laborers to meet the demand for labor for pipeline construction, workers from other places are transferred to Alaska, which causes the supply of labor increases.
The wage rate got increased due to the pipeline project. Thus, the supply of labor increased as well.
Low/no requirement to enter the pipeline project is another reason why the supply of
labor increases.

Q2:
Why is it better:
The employment rate only shows the ratio of current employment to total employment. The number of people of working age, such as civilians and non-agency workers, aged 16 and over. It typically does not vary from month to month, but even small changes can help identify which groups have lost or gained the most. The employment rate is not affected by voluntary changes in the labor force participation rate and is a useful indicator of current labor market conditions.
Some Limitation:
The employment rate does not include the establishment population, for example. People in Mental hospitals and prisons, or people studying for a career in school. The employment rate does not include child actors, nannies, part-time retirees, and others who are above or below working age but still working. These workers may be counted in the “employment” portion of the ratio but may not be included in the total number of working-age workers. This has led to inaccurate growth in their employment rates.

Q3:
In terms of job creation, the United States, because of its vast size and abundant natural. resources have the greatest advantage in establishing many companies and industries. Strong economic policies in the United States have also helped expand the labor market, created more jobs, and responded well to the financial crisis. Starting in the 1970s, women’s participation in the U.S. labor market rose sharply, which changed overall labor force participation in the United States. Because divorce rates are higher in the United States, women who marry later have lower birth rates; Women here really want independence and economic security. In addition to the many companies, industries, and organizations willing to set up bases in the country, the high demand for workers
also requires a large amount of labor, which has led many people to migrate to the country to create more labor.
European countries are much smaller than the United States. Scarce natural resources. and extreme climatic conditions discourage most companies and organizations from investing in these countries, thereby reducing the potential for job creation.
European countries have very low rates of female labor force participation, and women. in these countries are mostly in low-paid jobs. The global financial crisis hit European countries hard, and many people lost their jobs. But unemployment rates in these countries are much lower than in the United States. However, due to the lack of effective economic policies, the unemployment rate in Europe is higher than that in the United States, causing significant losses to the European economy. European countries have much lower job creation prospects than the United States, so minimal labor migration from these countries has allowed the U.S. labor market to expand over time.

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Every student submit an individual copy of the homework. I will check submissions for plagiarism using SafeAssign.

for short answer questions. Please write down detailed steps to get the final results.

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