Research of the Influencing Factors on Unemployment Rate

Abstract

The research primarily examines how the unemployment rate interacts with the other four indicators of economic development, demographic changes, educational attainment, and gender. Nowadays, people have found that more and more people lose their jobs and the unemployment rate increases over time. The paper collects relevant data and uses some methods (descriptive statistics, linear regression model) to study the relationship between the unemployment rate and other factors. According to a study of the unemployment rate, the most unique and significant macroeconomic issue affecting people is unemployment. A consequence of the financial crisis that the United States encountered in 2008 is rising unemployment rate. Additionally, non-economic events that are not often a part of the economy's dynamics might impact unemployment. Educational attainment and gender have a moderate influence on the unemployment rate; the unemployment rate of a person who achieves a doctoral degree is lower than that of another person who has less than a high school diploma. The difference in gender affects the unemployment rate in today's society. Nevertheless, the demographic transition has a slight effect on the unemployment rate.