the increase in unemployment was because of the slowdown in GDP over that time period.
Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period. The four components of gross domestic product are personal consumption, business investment, government spending, and net exports. 1 That tells you what a country is good at producing. GDP is the country's total economic output for each year. It's equivalent to what is being spent in that economy.
