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Full employment is where everyone over 16 who wants a job has a job. The good thing about employment is that the government can cut taxes because they do not pay out as much on benefits. The disadvantage about unemployment is that if people are unemployed the government will be paying more on benefits which means taxes will go up because the government won't be able to afford the benefits.
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∙ 11y ago
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How does a low unemployment rate affect a nation's economy?
The nation has a higher number of productive resources when the unemployment rate is low.
How do unions affect the natural rate of unemployment?
Unions may affect the natural rate of unemployment via the effect on insiders and outsiders. Because unions raise the wage above the equilibrium level, the quantity of labor demanded declines while the quantity supplied of labor rises, so there is unemployment.
Why is there unemployment even when the economy is at full-employment?
Because fullemployment doesn't really mean "FULL" employment, It basically means those really looking for a job are employed. At full employment there is roughly 4-6% of unemployment.
What is the Unemployment rate now?
What is the national unemployment rate
What was the unemployment rate in the US for August?
The Official Unemployment rate (U-3) in US for August 2011 was 9.1.Below are the other unemployment rates in US for August 2011 :U-1 Unemployment rate : 5.4U-2 Unemployment rate : 5.3U-3 Unemployment rate : 9.1U-4 Unemployment rate : 9.7U-5 Unemployment rate : 10.6U-6 Unemployment rate : 16.2
What will the affect of more people needing positions than positions becoming available have on the unemployment rate?
Whenever you have more people seeking work than there are jobs, than obviously the unemployment rate will go up.
What is the natural rate of unemployment equal to?
The long-run average unemployment rate around which the short-run unemployment rate fluctuates
What is the unemployment rate in Italy?
The estimated unemployment rate is 8.4% in Italy
What is the current rate of unemployment in Fiji?
6.473 % this is the unemployment rate in fiji
What was the unemployment rate in India in 1991?
The unemployment rate in India in 1991 was approximately 3.4%.
What is unemployement rate of Pakistan?
The Unemployment rate of Pakistan is 15.4%.
What is Italy's unemployment rate?
The estimated unemployment rate for Italy is 6.8% (2008).
