Tabular presentation of GDP growth and Unemployment of UK and Jamaica:- Unemployment Rate(%) Growth Rate (%) Year Jamaica UK Jamaica UK 2016 13.19 4.81 1.5 1.7 2017 11.63 4.33 0.68 1.7 2018 9.1 4 1.83 1.3 2019 7.72 3.74 0.97 1.4 2020 8.4 4.34 -10.05 -9.8 (i) what is the relationship between unemployment and economic growth for Each country?
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Tabular presentation of
|
|
Unemployment Rate(%) |
Growth Rate (%) |
||
|
Year |
Jamaica |
UK |
Jamaica |
UK |
|
2016 |
13.19 |
4.81 |
1.5 |
1.7 |
|
2017 |
11.63 |
4.33 |
0.68 |
1.7 |
|
2018 |
9.1 |
4 |
1.83 |
1.3 |
|
2019 |
7.72 |
3.74 |
0.97 |
1.4 |
|
2020 |
8.4 |
4.34 |
-10.05 |
-9.8 |
(i) what is the relationship between unemployment and
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- Prepare a table and line graph showing the unemployment and economic growth rate for Grenada (carribbean country) and Canada a developed country for the last 5 years. Determine the relationship between unemployment and economic growth observed between the two countries.Create a table with the National Unemployment rates from February 2020 through October 2020. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 3.5 3.5 4.4 14.7 13.2 11.0 10.2 8.4 7.9 6.9 6.7 6.7 What trend(s) do you observe? Next, review the employment situation summaries from March 2020 and October 2020.Year 2010 2011 2012 2013 2014 2015 Economic growth (%) 2.7 1.7 1.3 2.7 2.5 1.9 Unemployment (%) 9.6 8.9 8.1 7.4 6.2 5.3 Examine the data on the economic growth and unemployment rate for 2010-2015 a. What trends do you observe in the unemployment rate? In economic growth? b. Identify the relationship between Economic Growth and Unemployment, if any. (positive, negative, no relationship) Use the data to justify your choice. c. Does the relationship observed in part 2 satisfy the economists' view of the relationship between economic growth and unemployment? Use references to support your answer.