Consider a worker who, at any given time can be either
Assume that an unemployed worker finds a part time job with probability $ \alpha $ and full time job with probability $ \beta < \alpha $.
A full time worker may loose their job, or transfer to part time job, with probability $ \gamma $.
Further, a part time worker may loose their job, or finds a full time job, with probability $ \delta $.
In your work, do not use other than standard scientific libraries (like NumPy and Pandas). The exercise is inspired by QuantEcon example on https://python.quantecon.org/finite_markov.html which you may find helpful to go though.
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