Preview

Unemployment in Peru: An economic concern

Better Essays
Open Document
Open Document
1221 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Unemployment in Peru: An economic concern
Unemployment in Peru: an Economic Concern
AIU Online

Abstract
The Peruvian unemployment rate has started to decline in the past few years. The lowered unemployment rate connects to Peru’s economy and means it is on the mend. There are several relationships between the lowered unemployment rate and the economy that will be described. The data on this occurrence has a trend that shows it will continue to decrease. This will mean the economy will continue to improve. The future looks relatively bright for Peruvian people because with more people employed, the economy can make more money.

Unemployment in Peru: an Economic Concern Economic concerns are important to monitor especially in the case of South American countries whose rich culture is unmatched. Unemployment is defined as the total number of people who are unable to find work at one time (“Unemployment,” 2003). Several factors affect unemployment, including: the economy, a person’s skills, the jobs available, and loss of jobs. The unemployment rate is Peru has started to decrease in the past decade. This has several direct relationships to the economic stability of Peru, and the data suggests this is an ongoing trend. The unemployment rate has a direct correlation to the economy of Peru. The first relationship to the economic state is through the Gross Domestic Product (GDP). The unemployment rate has a direct relationship to the GDP. For instance, if the relationship between the two is negative there is obviously a high unemployment rate (Levine, 2013). Gross Domestic Product is also a direct indicator of a country 's economic situation. In Peru as the unemployment rate has started to decline the GDP has started to come up in the past decade. The GDP has increased from $61.347 billion to $197 billion in the last decade (“Peru GDP,” n.d.). This means that the GDP has increased while the unemployment rate has dropped. The unemployment rate in



References: Economic outlook peru. (2013). BBVA Research.Retrieved from http://serviciodeestudios.bbva.com/KETD/fbin/mult/1302_Peru_Outlook_1Q13_tcm348-374867.pdf?ts=2082013 Editorial Board. (2011). Macroeconomics. Schaumburg, IL: Words of Wisdom. Retrieved from http://wow.coursesmart.com/ Levine, L. (2013). Economic growth and the unemployment rate. Congressional Research Service. Retrieved from http://www.fas.org/sgp/crs/misc/R42063.pdf Peru GDP. (n.d.). Trading Economics. Retrieved from http://www.tradingeconomics.com/peru/gdp Peru unemployment rate. (n.d.). Trading Economics. Retrieved from http://www.tradingeconomics.com/peru/gdp Thompson, M.A. (2012). Employment trends: Peru. GoingGlobal. Retrieved from http://www.goinglobal.com/articles/1041/ Unemployment. (2003). In The Macmillan Encyclopedia. Retrieved from http://www.credoreference.com.proxy.cecybrary.com/entry/move/unemployment

You May Also Find These Documents Helpful

  • Powerful Essays

    This paper I am writing is concerned with the economic considerations of a South American country and shall analyze the impact of an economic concern as followed on this particular South American country that I have chosen and I will identify the trend of the economic concern with the specified region and basis of data sets that accumulated from the source. The South American countries have a major impact on the American Economy and the concern of one particular country raised our bodies of knowledge regarding the economic trend involved in the particular country and was found to have its impact on overall economy as well.…

    • 1412 Words
    • 4 Pages
    Powerful Essays
  • Good Essays

    Republic of Peru

    • 3558 Words
    • 15 Pages

    Peru's economy is one of the most dynamic in Latin America, showing particularly strong growth over the past three years. During the 1990s, Peru was transformed by market-oriented economic reforms and…

    • 3558 Words
    • 15 Pages
    Good Essays
  • Powerful Essays

    This graph shows that although there appears to be no direct relationship between GDP and unemployment until after around 1986, a correlation begins after this point. As we would expect to see, GDP increases as the rate of unemployment falls and vice-versa. Unemployment has been increasing since 1970 and continued until around 1986, eventually peaking with very high rates of nearly 12% in 1994.…

    • 2530 Words
    • 11 Pages
    Powerful Essays
  • Better Essays

    According to statistics, from 1980 to present day the United States unemployment rate has always fluctuated. In 1983 the United States unemployment rate saw a high of 9.7 percent, then in 1985 it dropped down to 5.3 percent; the lowest rates are seen between the years of 1996 (5.4 percent) and 2000 (4.0 percent). From 2001 to 2009 the numbers continue to fluctuate, in 2001 we see a .7 percent increase (4.7 percent) when compared to 2000 records; 2003 another increase of 1.3 percent (6.0 percent); 2005 there was a drop of 0.9 percent (5.1 percent); 2007 another drop of 0.5 percent (4.6 percent); and finally in 2009 a major increase of 4.7 percent (9.3 percent). From 2009 to the present they are record high unemployment rates since the early 1980’s, 2010 year to date average was recorded at 9.7 percent. That is a 3.8 percent increase from 2008 when rates were recorded at 5.8 percent compared to…

    • 916 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    It seems that the hottest topic among economists in the last few years has been unemployment. As it should be given, the apparent problems created not only personally but nationally because of it. What few realize is that even though Unemployment is a big topic right now, it isn’t the only thing that affects our economy. The U.S economy is affected by several factors and measured by even more models. The problem with many of these models is that they often only measure a particular aspect of the economy. Because of this by themselves, they present an inaccurate view of the economy. So, to understand the state of our economy we must look at not only the rate of unemployment but; the consumer price index, the rate of inflation, the real GDP,…

    • 138 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    From all the widely recognized implications of the recession, the higher unemployment is the famous and the meanest indicator of the recession. A month before the recession December 2007, the U.S. unemployment rate was 5.0% and it has been at or below this percentage for a long time. But when recession ended, the unemployment rate was around about 9.5% June 2009 it further peaked to 10.0% a 100% increase with 4.4% of Long-term unemployment rate around October 2009 which shows that after the monetary policy have tried to recover the economy it…

    • 2368 Words
    • 10 Pages
    Better Essays
  • Good Essays

    Poland Unemployment

    • 1168 Words
    • 5 Pages

    Unemployment is one of the most serious economic and social problems in Poland. The unemployment rate has been growing successively in the recent years: in 1998 it was 10.6 %, and in 2002 almost 20%. That unfavorable trend changed in 2003. The biggest drop of the unemployment rate took place, however, in 2006 when the unemployment rate fell below 15%, reaching 8.9% in September 2008. It was the effect of an economic boom which brought more work offers and the growth of the number of working persons. In January 2012 the unemployment rate amounted to 13.2%. In an analogous period of the previous year the unemployment rate amounted to 13.1%.…

    • 1168 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Educator

    • 898 Words
    • 4 Pages

    On the other hand, no strong relation between poverty and unemployment may also caused by a lack of unemployment measurement. This is proofed by Son and Kakwani (2006) based on their study using Brazil data. By modifying the conventional measurement of unemployment rate, they found that correlation between unemployment and poverty rate becomes significant, while based on conventional1 unemployment measure…

    • 898 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Unemployment in Pakistan

    • 331 Words
    • 2 Pages

    Unemployment is one of the biggest problems of Pakistan. Even a person unemployed who has ability to do work and is willing to do work is unable to get job opportunity .In the current situation more than 30 lac people are unemployed in Pakistan and unemployment ratio is more than 12/I want to share the reasons because of which the rate of unemployment in Pakistan is very high .…

    • 331 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    This essay constructs an index of economic performance for Spanish since 2004 to 2013, applying with macroeconomic analyze, aims to discuss the Spanish performance of economic over 10 years. The economic performance will be provide according three mainly factors: Production output performance, labor market analysis and price level analysis. For each part of analysis, the structure of the evidence including the description of following details: First of all, for analyzing the data, graph will be shown in the repot, secondly, the analyze will followed by the distribution and explain for each performance, lastly, the analysis will end by the government fiscal policy. After analyzing these three part of economic performance, the conclusion of this report will be provide at the end of the essay.…

    • 1543 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Unemployment has remained high in the Philippines, at almost twice the level of neighboring countries, despite relatively fast employment growth in the past decade. Employment growth was not sufficient to reduce unemployment because of rapid population growth and increased labor force participation. This paper shows that Philippine employment growth and unemployment declines were positively correlated with real GDP growth and, to a lesser extent, negatively with the real minimum wage. The key policy implications are that higher economic growth and moderation of increases in the real minimum wage are required to reduce unemployment.…

    • 1540 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Unemployment and People

    • 269 Words
    • 2 Pages

    Our group wanted to study this topic so that we will see what the effect is. We want to widen our knowledge in terms of these things so that we can level ourselves to the people who know this. Our purpose of our research is to know the effects of unemployment in a community. We used a small compound in Magsaysay where we did surveys to see how many people are unemployed and what are their reasons why they are unemployed. In this small community, we can see how fast or how slow the growth of the economy. Obviously the people involved are the people looking for jobs, the youth called “tambays” and wives who are just staying in their houses. By conducting the survey, this will help us conclude what is the effect and how will we solve this problem. By maybe, creating own jobs or persevere in looking for…

    • 269 Words
    • 2 Pages
    Good Essays
  • Better Essays

    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.…

    • 1535 Words
    • 5 Pages
    Better Essays
  • Good Essays

    With reference to Trading Economics, (2010) the table placed by the rate of unemployment in 2009 was low and in 2010 it increased. The data averaged change by 61 percent in every. In view of the Brazil’s graphs of the economy one can say the rate of unemployment relate directly with the economy. In 2009 the rate of unemployment started to improve, trade and the exports also went up. Economy growth is a vital source to reduce unemployment (Aghion & Howitt 478). Most nations that contain poor social indicators reduce the productive energy of the economy along with its capability to service its increased level of unemployment. The…

    • 591 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Current Event

    • 454 Words
    • 2 Pages

    When the economy declines, jobs will tend to decline. In today’s society unemployment is one of the greatest challenge that is facing many people around the world. Because of the low unemployment is seen in countries like Greece and North America, the people cannot live to their potential. Unemployment brings uncertainty and fear.…

    • 454 Words
    • 2 Pages
    Good Essays