Analysis of Nexus Between Unemployment and Recession in India
DOI:
https://doi.org/10.31674/ijmhs.2024.v08i02.005Abstract
The nexus between unemployment and recession in India highlights a critical economic relationship where downturns significantly impact job availability, deepening economic challenges and affecting the livelihoods of millions. In this study, the author reviewed the research on the nexus between unemployment rate and recessions in the US during 1948-2020 and in the UK during 1900-2023 and attempted to examine the cyclical relationship between unemployment rate and GDP growth during all recessions and economic crises from 1951 to 2023 in India. The paper explored that all the peaks of the unemployment rates are associated with troughs of the GDP growth rates in every recession in India, especially in 1957, 1965, 1966, 1972, 1979, and 2020, while in other economic crises in 1985-86, 1991, 2005-06, unemployment rates were either upswing or reached peak levels when GDP growth rates were either downswing or reached at troughs. There are marginal exceptions during cyclical fashions in association between them.
Keywords:
Cyclical Trend, Cycle, Growth Rate, Recession, Unemployment RateDownloads
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