Question

The average duration of unemployment is _________. Multiple Choice both a coincidental indicator and a lagging indicator a lagging economic indicator a coincidental economic indicator a leading economic indicator

Answer 1

Answer:

lagging economic indicator

Explanation:

The average amount of time it takes for an unemployed person to find a new job is a scenario of lagging economic indicator, the Employment rate is usually one of the last things work in in an economy that is about or entering a period of expansion. Sackings or Layoffs of staff are one of the last resorts for companies when the economy turns down.

Another way is due to fact that businesses wait until companiestokk lay off, and wait until recoveries look secure to rehire, this part is necessary as it lags the cycle on both the way down and the way up