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

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

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