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Briefly discuss employment as an economic indicator

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  • Why employment as an economic indicator
  • Data relating to employment is an important indicator that is used to determine the success or state of the economy.
  • It indicates the number of workers employed, as well as the total number of people that are unemployed.
  • If the employment rate is compared with the economically active population, the unemployment rate can be determined.
  • It indicates the productivity of labour in the country.
  • E.g. the productivity rate could be used as a useful tool to justify the income per worker.
  • It relates to the employment rate in various sectors of the economy.
  • Employment indicators can be used by government to formulate the best policies to decrease unemployment and reduce poverty
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