Please use two economic concepts. Thank u. Is unemployment "good" or "bad" for the economy? Why?

Question

Question

Please use two economic concepts. Thank u.

Is unemployment "good" or "bad" for the economy? Why?

Answer 1

Answer #1

Unemployment is not totally bad for any economy

Frictional and Stuctural unemployment exist in every economy.

Frictional unemployment is that type of unemployment which arises when people shift their job from one place to another or find new job .

Structural unemployment arises due to mismatch of skills that is required in the market and what is provided in the market .

It can be due to the increasing technology or some other factors.

so both these unemployment cannot be ignored in any economy.

United state has Limited 4%as a good limit for unemployment rate

Answer 2

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