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Economics : Wage


Running head: ECONOMICS1Economic Application PaperStudents
NameStudents Course Number:Institutional
AffiliationECONOMICS2Application Paper on Unemployment Rate in the
USIntroduction on definition, types, and measurement of
Unemployment rateOne of President Trumps campaign policies was to
make America great again bybringing back the numerous employment
opportunities which had been shifted to other foreignnations by
various companies that had relocated to these nations because of
their low cost ofproduction, such as China. In his campaign, Donald
Trump was greatly concerned by thegrowing unemployment rate in the
country which he claimed was affecting the countryseconomic
development. Unemployment is a term that is used to refer to
individuals who arecapable and willing to work but are unable to
secure job opportunities. Unemployed individualsare those who are
considered active labor participants, meaning that they are capable
and readyto work but cannot find.In calculating the rate of
unemployment of a country, economists always excludeindividuals who
are within the legal working age but are not seeking job
opportunities because ofvarious reasons such as illnesses or
education. Calculating a countrys unemployment rate is vitalas it
helps in measuring the state and performance of the economy. A
country with highunemployment rate is always perceived to be less
productive economically because majority ofthose who are ready to
work will …

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