Module 12 Lesson 4 - Inquire & Watch

 

Inquire: Unemployment

Why the Unemployment Rate Matters

Why are some economies said to be booming, when others are struggling? Why are jobs plentiful in some countries and relatively scarce in others? To help answer these questions, it’s important to understand the nuances of the unemployment rate, one of the most important measures of an economy’s health.

The unemployment rate, however, is not merely an abstract academic statistic because it directly touches the lives of everyone who wants a job or has a job. For example, a recent college graduate who enters the job market in a period of high unemployment will have a more difficult time finding their first job. On the other hand, a worker who asks their boss for a promotion during a time of low unemployment will usually have greater negotiating power.

Big Question

What are some of the ways that unemployment can affect individuals?

 

Watch: Understanding Unemployment

 

Click here to download the accessible transcript PDF. Links to an external site.

 

 

Module 12 Lesson 4 of 4