In this short revision video we make a distinction between some of the micro and macroeconomic effects of a sustained fall in unemployment. Unemployment rates have been falling quickly in many countries including the UK where the labour force survey unemployment rate is now below 4%. That said, measured unemployment remains high in many counties including Greece, Spain, Brazil and also India and in all cases there is also likely to be significant hidden unemployment.
© 2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.