Question

15. Why is unemployment a closely watched figure by the government?

16. Briefly explain the connection between a person’s level of education and his or her potential for employability and earnings.



Economics

Answer 1

The government watches the employment rate because the rate of employment can affect the the performance of a country. If the employment rate is low the standard of living of that country might be low as well. This could affect individuals health and life expectancy. Also if the employment rate is low this means that the country is not effectively employing all its resources and GDP is going to be lower than its potential. The government will then try to find measures to increase the employment rate.
If the employment rate is high then the economy is booming, the standard of living is high and the spending and output in the economy is high.


An individuals level of education can negatively or positively impact their employability and earnings. A person with higher education and experience is mostly likely to be faster employed and receive higher earnings in comparison to a person with lower education and experience.

Answer 2

15. Unemployment is closely watched by the government due to the fact that the amount of people in the U.S that are bringing in revenue, effects the economy.