Unemployment in Peru: An economic concern

1207 WordsSep 29, 20135 Pages
Unemployment in Peru: an Economic Concern AIU Online Abstract The Peruvian unemployment rate has started to decline in the past few years. The lowered unemployment rate connects to Peru’s economy and means it is on the mend. There are several relationships between the lowered unemployment rate and the economy that will be described. The data on this occurrence has a trend that shows it will continue to decrease. This will mean the economy will continue to improve. The future looks relatively bright for Peruvian people because with more people employed, the economy can make more money. Unemployment in Peru: an Economic Concern Economic concerns are important to monitor especially…show more content…
The data trend for this economic concern and how it affects the economy suggests that economy will continue to improve. As seen below in Chart 1, the trend shows that the unemployment rate has been decreasing for a decade and should continue to decrease unless something unforeseen happens. It shows although with several spikes that the data if following the averages is decreasing slowly (“Peru Unemployment Rate,” n.d.). This means that the economy will also continue to improve for Peru. This is portrayed in correlation to the increased GDP in chart 2. This trend also shows that in the last decade, the GDP has been rising steadily, which means overall that the economy is increasing (“Peru GDP,” n.d.). The data for GDP and unemployment is connected because as the unemployment rate went down the GDP went up, which only makes sense because with more people working more can be produced. These are both also correlated to monitoring the status of an economy. Both graphs show that between 2003 and 2013, the economy in Peru was improving, and it appears that it will continue to do so. Chart 3 shows the Year-on-year inflation by percentage (“Economic Outlook,” 2013). This shows that the inflation rates have started to come into the target range for inflation in the past year as well. Inflation is the steady
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