Unemployment And The Rate Of Inflation

1673 WordsMar 23, 20157 Pages
Unemployment and the rate of Inflation are two main problems faced by most economies around the world. Lower rates of each are sought after in order to create and maintain a more stable economy. Unemployment rate can be officially defined as a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labour force. The inflation rate is the percentage rate of change of a price index over time. The Retail Prices Index is also a measure of inflation that is commonly used in the United Kingdom. It is broader than the CPI and contains a larger basket of goods and services. By obtaining data for two countries, UK and France, on unemployment rate and CPI, which allowed me to calculate inflation rate and then further the change in inflation rate, I have been able to construct the table above. This table clearly shows the comparison between the two countries between the time period of 1970-2013. From this table I am able to create graphs to represent the data in an aesthetically pleasing format - a picture says a thousand words. Firstly I will begin by discussing the unemployment rate graph. This line graph represents the comparison of the changes of unemployment rate data from 1970 -2013 for the countries France and United Kingdom. At 1970 France 's unemployment rate remains consistent for 4 years while the UK 's rises slightly however generally during the 1970s the
Open Document