3 years ago

How does a high unemployment rate affect the economy

1 answer:

3 0

Unemployment is the one who has nothing to engage that's particularly job. As far as the high unemployment rate is concerned, it affects the economy highly. First of all it will increase the national debt. Secondly it will again increase recession. It also decreases health service and living standards. The result behind the affection is that unemployed spends less that they are not participating in paying taxes due to lack of job. Then govt ends up borrowing because of low revenue and high spending.

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