How to Sustain Acceptable Employment Levels Law Essay
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The state of unemployment can be attributed to many factors, external or internal. External factors come into existence with the low growth rate, falling GDPs (Okun’s Law states that for every 2% fall in GDP, the unemployment rate goes up by 1 %), declining job sectors, deflation in the economy, slashing jobs or job cuts whereas internal factors can be attributed to person’s own incapability to find a job due to lack of experience, skills, etc.