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Pakistan 1 | P a g e
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Contents Pakistan ................................................................................................................................................. 1 Introduction ........................................................................................................................................... 3 Unemployment .................................................................................................................................. 3 Inflation ............................................................................................................................................. 3 Economic growth ............................................................................................................................... 3 Trends of the 3 variables in Pakistan ..................................................................................................... 4 Unemployment .................................................................................................................................. 4 Inflation ............................................................................................................................................. 5 Economic growth ............................................................................................................................... 7 Monetary and Fiscal Policy ............................................................................................................... 8 Recommended Policy ............................................................................................................................ 8 Conclusion ....................................................................................................................................... 10 References ....................................................................................................................................... 11 2 | P a g e
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Introduction All macroeconomic phenomena include unemployment, inflation and economic growth. They are interrelated. The study is important because it focuses on aggregate economic changes, such as unemployment, growth, the GDP and inflation. Unemployment Unemployment is defined as people who have no jobs, have worked in the past 4 weeks actively and are presently available for work by the Labour Statistics Office (Argy et al, 2016). In addition, the labour statistics include people who have been temporarily dismissed and waiting to be called back to that job. In the survey, part of the monthly work study, the BLS reports that. Unemployment is essentially defined as the condition that they have no jobs or are unemployed or a share of the people who can actively search for jobs but can not find them. Inflation Inflation refers to a price rise that reduces a nation's purchasing power. As long as the annual share remains low, inflation is a natural economic development and as soon as the share rises to a pre-determined level, the inflation crisis is regarded (Argy et al, 2016). However, economic discussions about the relationship respectively money supply and price levels have today led to its primary use in describing price inflation. The term "inflation" once referred to an increase in money supply (monetary inflation). Inflation can also be described as a decrease in the true value of the money— a loss of buying power on the exchange medium that is also the monetary account unit. Economic growth In the production of goods and services, economic growth represents an increase over a particular period (Rehman et al, 2019). To order to be more precise, the metric would exclude inflation. Economic growth generates more income for companies. As a result, asset prices are up. Investment and recruitment are possible for companies. Revenues are growing with more jobs being created. Consumers can buy more money for additional goods and services. Acquisitions lead to increased economic growth. Each country therefore wants good economic growth. It makes economic growth the most diligent measure. 3 | P a g e
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Trends of the 3 variables in Pakistan Unemployment Unemployment is profoundly an ongoing obstacle faced by Pakistan since it was formed and one of Pakistan's greatest problems (Alogoskoufis, 2018). A jobless worker is an employed employee who is capable of and searches for jobs and who can not find work for a specific comparison span of a week, month or year. In Pakistan, over millions are not working and the unemployment rate is over 3.02%, based on the present situation. In rural areas where approximately 70% of the population lives, Pakistan's unemployment problem is growing (Meo et al, 2018). The livelihoods of rural communities are reliant. They lack basic needs such as primary health care, education, jobs,
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