The US unemployment rate increased to 3.6 percent in October 2019 from 3.5 percent in the previous month and in line with market expectations. Over the month, the number of unemployed persons increased by 86, 000. The labor force participation rate edged up to 63.3 percent from 63.2 percent in September.According to the passage, which macroeconomic goal is being described?

GDP

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Economic growth
B	Full employment
C	Stable prices
D	Inflation
E	Economic downturn

Explanation:

Detailed explanation-1: -Unemployment. Reflecting the expected slowdown in economic growth, the overall rate of unemployment is projected to rise from 3.6 percent in the fourth quarter of 2022 to 5.1 percent by the end of 2023, averaging 4.7 percent for 2023 as a whole.

Detailed explanation-2: -The unemployment rate is projected to reach almost 4.5 percent in 2023, up from 3.5 percent in September 2022.

Detailed explanation-3: -The recession induced by the coronavirus disease 2019 (COVID-19) pandemic resulted in steep job losses, pushed the unemployment rate to a high of 13.0 percent in the second quarter of 2020, and caused many people to leave the labor force.

Detailed explanation-4: -The U.S. labor market remained strong in 2019, as the unemployment rate fell to 3.5 percent, the lowest rate since 1969. Both the employment–population ratio and the civilian labor force participation rate increased over the year.

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ECONOMICS (CBSE/UGC NET)

ECONOMICS

GDP