2007-03-18 14:47:44 · 4 answers · asked by ? 1 in Social Science ➔ Economics
When the economy is doing well, employment increases, and when the economy is doig poorly employment decreases.
2007-03-18 14:52:32 · answer #1 · answered by Santa Barbara 7 · 0⤊ 0⤋
This question is so broad it is unreal! When the economy is active and GDP is strong, unemployment tends to be low. However, when economic activity is low and GDP slow, then unemployment is higher. The business cycle speaks of the fluctuations in economic activity and the instability issues the result, i.e. unemployment and/or inflation. Sorry I can't get more general, this is a BIG topic.
2007-03-18 21:54:33 · answer #2 · answered by econgal 5 · 0⤊ 0⤋
employment is a big picture of you working, your neighbor working, your banker working, your contractor working....Then it has to do with income-how many people are working in the field they are trained and want to work in....Are they making the money that their education gives? So, in the study of choices-economics-employment drives the gov and interest rates.
2007-03-18 21:56:07 · answer #3 · answered by RayM 4 · 0⤊ 0⤋
One way is if people are not buying something because they don't have the money to, stores/factories may have to close and that affects the unemployment rate.
2007-03-18 21:56:33 · answer #4 · answered by debrenee211 5 · 0⤊ 0⤋