How Did The Great Depression Affect Unemployment? During the Great Depression, US unemployment rate rose from virtually 0% in 1929 to a peak of 25.6% in May 1933. This was the equivalent of 15 million people unemployed. The unemployment caused serious economic hardship as welfare support for the unemployed was very limited. … How did
What Factors Make It Difficult To Determine The Unemployment Rate? What factors make it difficult to determine the unemployment rate? it is difficult to determine the unemployment rate because identifying the unemployment rate requires calculating the number of unemployed individuals who were actively seeking work in the past 4 weeks and it is hard to
What Effect Does Minimum Wage Have On Unemployment? What effect does minimum wage have on unemployment? Although it reduces demand for labor by raising the marginal cost of employing a new worker, a higher minimum wage increases the gap between the expected returns to employment relative to unemployment, inducing additional search effort from unemployed workers.