Answer to Question #193842 in Macroeconomics for Anusha Saleem

Question

Why unemployment rate sometimes high sometimes low ? Discuss in detail.

Answer 1

Unemployment is sometimes low because of increased workload in industries and companies. Still on this, educated and skilled workers get jobs easily therefore lowering the unemployment rate.

Unemployment is sometimes high because of lack of required skills. Additionally, diseases like COVID-19 pandemic have played a role in increasing unemployment rate since some workers have lost their permanent jobs due to this disease.