According to the World Bank, unemployment in Australia in 2008 was at an all-time low at 4.23

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According to the World Bank, unemployment in Australia in 2008 was at an all-time low at 4.23 percent. However, unemployment picked up after 2008, reaching 6.07 percent in 2014, while GDP growth averaged at around a stable 2.2 percent. What is the connection between unemployment and GDP growth? Was Australia in a recession between 2008 and 2014?

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Principles Of Macroeconomics

ISBN: 9781292303826

13th Global Edition

Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster

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