Macro Paper How unemployment rate 2010
RUNNING HEADER: HOW UNEMPLOYMENT RATE AFFECT COUNTRIES
How the Unemployment Rate Affects a Countries Economy
In 2010
Abstract
This paper is about how the high unemployment rate has an affect on the economy. The high unemployment rate had an affect on the Gross Domestic Production as well how it had an affect on the economy as well. This paper covers when the Gross Domestic Production went up the unemployment rate had gone down as well. The high unemployment rate also had direct ties to the economy, because if people are not working they are not going to spend money on house hold goods which is what drives the economy.
How the Unemployment Rate Affects a Countries Economy There are many reasons why a countries economy could be in a down fall and one of those reasons is the fact that a countries unemployment rate is up. The unemployment rate is intertwined with the economics of a country. There are three things that we are going to look at with the unemployment is how it affects gross domestic product or GDP for short, the affects of unemployment on the economy, and how to try to combat unemployment and creating jobs. The gross domestic product is affected by unemployment because if people are not working they are not buying goods. When a person is unemployed they are more concerned with saving money rather than spending it on goods. They choose to spend that money on the necessities such as paying their rent, buying food, or paying their bills. The GDP measures the value of good that are produced with the country. They take a measurement of the values of those goods that are produced with in the countries borders. When the GDP goes up it tend to create jobs and lower the unemployment rate. The problem that is faced right know in the country is that its going to take a significant growth in the GDP for the unemployment rate to lower itself. The Unemployment rate is at 7.9 percent right now.
How the Unemployment Rate Affects a Countries Economy
In 2010
Abstract
This paper is about how the high unemployment rate has an affect on the economy. The high unemployment rate had an affect on the Gross Domestic Production as well how it had an affect on the economy as well. This paper covers when the Gross Domestic Production went up the unemployment rate had gone down as well. The high unemployment rate also had direct ties to the economy, because if people are not working they are not going to spend money on house hold goods which is what drives the economy.
How the Unemployment Rate Affects a Countries Economy There are many reasons why a countries economy could be in a down fall and one of those reasons is the fact that a countries unemployment rate is up. The unemployment rate is intertwined with the economics of a country. There are three things that we are going to look at with the unemployment is how it affects gross domestic product or GDP for short, the affects of unemployment on the economy, and how to try to combat unemployment and creating jobs. The gross domestic product is affected by unemployment because if people are not working they are not buying goods. When a person is unemployed they are more concerned with saving money rather than spending it on goods. They choose to spend that money on the necessities such as paying their rent, buying food, or paying their bills. The GDP measures the value of good that are produced with the country. They take a measurement of the values of those goods that are produced with in the countries borders. When the GDP goes up it tend to create jobs and lower the unemployment rate. The problem that is faced right know in the country is that its going to take a significant growth in the GDP for the unemployment rate to lower itself. The Unemployment rate is at 7.9 percent right now.
References: Consumers spending more; GDP increases. (2010, May 1). Virginian-Pilot,A.5. Retrieved May 5, 2010, from ProQuest Newsstand Phil Izzo, (2010, February 11). Economists Say Many Lost Jobs Won’t Return. Wall Street Journal(online) 1960530771). Swell Chan. (2010, April 18). Unemployment is Tied to Big Drop in Demand. New York Times (Late Edition(East Coast)), p Source. (Document ID: 2012041031) UNITED STATES: Unemployment will slow recovery Brief Service, 1. Retrieved April 25, 2010, from ABI/INFORM Global. (Document ID: 1816444431).