Discuss the trend of the unemployment rate in developing and developed countries. Is there any evidence of unemployment associated with the business cycle in these countries in this period?

COUNTRIES Nothern Europe (Developed) South Asia (Developing) YEAR United Denmark India Bangladesh Kingdom 2005 4.8 4.8 5.6 4.3 2006 3.9 5.3 5.6 3.6 2007 3.8 5.3 5.6 4.1 2008 3.7 5.6 5.4 4.6 Unemployment 2009 6.4 7.5 5.5 5 rate (% of total 2010 7.8 7.8 5.5 3.4 labor 2011 7.8 8 3.8 force)(modeled 2012 7.8 7.9 ILO estimate) 2013 7.4 7.5 2014 6.9 6.1 2015 6.3 5.3 2016 6 4.8 2017 5.8 4.3 2018 5.1 4 2019 5 3.7 2020 5.6 4.5 2021 4.8 4.5 6 Table : Unemployment rate (% of total labor force)(modeled ILO estimate) of 4 countries. Source: The World BankUnemployment rate (% of total labor force)(modeled ILO estimate) LD 00 UT W N 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Denmark -United Kingdom -India Bangladesh Figure : Unemployment rate (% of total labor force)(modeled ILO estimate) of 4 countries. Source: The World Bank