Chp 8

Chp 8

by Hudson Stiver -
Number of replies: 1

When looking at the graph shown it can be determined that the unemployment rate for the US has gone through both ups and downs. Following the great recession it can be seen that unemployment rates reached up to 10%. The rate slowly decreased following that time but jumped due to the economic status of that time. The graph also displays that the unemployment rates significantly rose to close to 15% during the 2020 COVID 19. Due to employees and workers getting quarantined at home, they could not go to work because of the government mandate. This mandate ultimately created many unemployed people throughout the country. The unemployment rate again gradually decreased following the spike. Unemployment rates can often be altered by outside factors.

In reply to Hudson Stiver

Re: Chp 8

by Shiloh Stoller -
I would agree that unemployment rates are altered by big outside factors. It makes sense that crises like COVID 19 would cause the unemployment rate to go down because we had such a huge lock down on everything.
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