Most people would agree that a prime objective of economic policy is economic growth. It is through economic growth that the resources available to members of a society can be expanded, which allows the standard of living to be raised. People play a dual role in this context. On one hand, they are the consumers of the resources that a society produces — in other words, they are the ultimate beneficiaries of economic growth. On the other hand, people are also a key productive resource for a society — in the form of labour. Because of this, the pattern of employment and unemployment provides important information about the performance of the economy.
There are two aspects of employment that are significant in influencing economic growth.
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