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ReneHigh youth unemployment in Nigeria can strain the economy by reducing overall productivity and consumption levels. It can also lead to social instability and increase the dependency on social welfare programs, which can further burden the economy. Additionally, a large pool of unemployed youth can result in lost opportunities for economic growth and innovation.
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What is the unemployment rate of Monaco?
Monaco has a very low unemployment rate, estimated to be around 2% as of 2021. The economy of Monaco is primarily driven by tourism, finance, and real estate, which helps to keep unemployment levels low.
What is the natural rate of unemployment equal to?
The natural rate of unemployment, also known as the non-accelerating inflation rate of unemployment (NAIRU), is the rate of unemployment at which inflation remains stable over time. It is determined by structural factors in the economy, such as demographics, labor market institutions, and technology. It is not a fixed number and can vary over time.
What is the unemployment rate of Vanuatu?
As of 2021, the unemployment rate in Vanuatu is estimated to be around 3%. However, it's important to note that due to limited data availability and the presence of a large informal economy in Vanuatu, this figure may not fully capture the true extent of unemployment in the country.
What was the unemployment rate in the US in 1928?
The unemployment rate in the US in 1928 was around 4.2%. This was before the Great Depression, and the economy was experiencing a period of growth and prosperity.
What is measured in unemployment rate?
Unemployment rate measures the percentage of the labor force that is currently unemployed and actively seeking employment. It is an important economic indicator that provides insight into the health of the job market and overall economy.
