Question
Can you help me compare two related economic variables I have in my paper which I wrote (GDP& unemployment rate) and see if you can
Can you help me compare two related economic variables I have in my paper which I wrote (GDP& unemployment rate) and see if you can help me identify a relationship between them, please?
West African nation Togo, bordering Ghana, Benin, and Burkina Faso, has a population of roughly 8.5 million. Despite a stable labor market, reflected in a low 3.72% unemployment rate (2023, World Bank), Togo remains classified as one of the world's poorest countries by the IMF.
Togo's Unemployment Rate from 2019-2023
As of 2023, Togo's unemployment rate is approximately 3.7%. The unemployment rate over the past five years has been as follows:
2019: 3.8%
2020: 4.17%
2021: 4.4%
2022: 3.85%
2023: 3.72%
The data shows peak unemployment in 2021, likely due to the economic impact of the COVID-19 pandemic, with a gradual decline in subsequent years. Below is a bar graph illustrating the unemployment rate in Togo from 2019 to 2023:
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