Answer :
The lowest rate of unemployment that exists while inflation is steady or when it is not increasing is known as the natural rate of unemployment.
What factors contribute to unemployment?
There are numerous factors that originate from both the supply side, or the worker, and the demand side, or the employer, that contribute to unemployment. High interest rates, the world economy being in a recession, and the financial crisis might all affect demand. Frictional unemployment and structural employment are major supply-side contributors.
Why is unemployment such an issue?
Losses in salaries and incomes for workers and their families, an increase in inequality, a hostile atmosphere for welfare reform, and the social costs of increasing crime and deteriorating health are all consequences of higher unemployment.
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