The most obvious thing from the graph is that during crisis unemployment rates sky rocket. But the key to when crisis happens are the long lasting effects of the economic crisis. In the two examples on the graph of 08 and covid there was not a huge long lasting effect of unemployment but instead the graph goes to a natural unemployment rate after a few years. As a result unemployment might not be the problem but results of other poor economic decisions in other areas.
This is very true. It is important to note that unemployment doesn't just happen. It is most of the time a result from other poor economic decisions.
That is a very good point. A crisis always influences the economy in drastic ways.
Great point. We saw that during the covid crisis, unemployment skyrocketed. We see a trend that during crisis, unemployment becomes more of an issue.
This is good. Unemployment is not only effected by crisis but also poor economic decisions.