ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The percentage of a nations labor force that is unemployed.
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Gross Domestic Product
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Inflation
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Unemployment
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Consumer Price Index
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Explanation:
Detailed explanation-1: -In the long-term, the South Africa Unemployment Rate is projected to trend around 33.80 percent in 2024 and 32.80 percent in 2025, according to our econometric models. In South Africa, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Detailed explanation-2: -labor force = number of persons unemployed / unemployment rate = 6 million / 6% = 100 million.
Detailed explanation-3: -The national unemployment rate. Perhaps the most widely known labor market indicator, this statistic reflects the number of unemployed people as a percentage of the labor force.
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