Factors That Affect A Country s Economic Performance

Introduction National unemployment rates are one of the key macroeconomic figures that indicate to an extent how well a country is performing at a certain point in time. These figures are widely used by economists because they can show economic growth or economic stagnation. One of the most significant steps that must be taken in order to reduce the unemployment rate is to find out what is causing it. There are many different factors that affect a country’s economic is performance, which means that there is also a wide range of policies that can be implemented to reduce unemployment and improve economic performance. Typically there are two major types of employment factors – demand side and supply side. Unemployment – types, causes and effects According to John Sloman and Alison Wride (2010, p.32) unemployed person is considered to be the one who is without work, but is available for a one at current wage rates. 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