CTP 03 - will change all the time Some information might...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Lao Tat Sang Lao ECON 202 – David Bell April 20, 2010 CTP 03 Unemployment In macroeconomics, unemployment is one of the important indexes that indicate a country’s economy whether it is strong or not. High unemployment rate means there are many people lose their jobs, and the economy of the nation is going down. Therefore, economists have to pay attention to the unemployment statistic so that they can find how the nation’s economy is going. If the economists find the unemployment rate is increasing, government have to take some measures to lower the rate such as creating jobs for the people who are out of work. However, accurate and timely unemployment statistic is not easy to get because collecting data from society and individual involve huge amount of data, and the data of unemployment
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: will change all the time. Some information might change after economists got the unemployment data, and that would skew the statistic. We don’t hear much about the employment rate vs. unemployment rate because we just need to know one of them and would understand how the economy is going. For example, if we know the employment rate is low, we know the unemployment rate is high and we are in recession like today. Therefore, employment rate vs. unemployment rate doesn’t make sense. In addition, unemployment rate also is an index that indicates how many new jobs were created in given period. Economists can find the difference between two different rates in the given period....
View Full Document

This note was uploaded on 04/17/2011 for the course ECON 202 taught by Professor Kotlove during the Spring '11 term at Edmonds Community College.

Page1 / 2

CTP 03 - will change all the time Some information might...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online