The table below shows select labour market statistics for a country over a five-year period.
| Year | Working-Age Population (Millions) | Employed (Millions) | Unemployed (Millions) | Economically Inactive (Millions) |
|---|---|---|---|---|
| 2018 | 40.0 | 24.0 | 2.0 | 14.0 |
| 2019 | 40.5 | 25.0 | 1.5 | 14.0 |
| 2020 | 41.0 | 23.0 | 3.0 | 15.0 |
| 2021 | 41.2 | 24.2 | 2.2 | 14.8 |
| 2022 | 41.5 | 25.5 | 1.6 | 14.4 |
Which one of the following can be inferred from the data provided?
The unemployment rate in 2020 was approximately 7.3%7.3\%7.3%, representing a significant increase from 2019.
Between 2018 and 2022, the active labour force increased by exactly 1.11.11.1 million people.
The number of economically inactive individuals decreased continuously throughout the entire period from 2018 to 2022.
The increase in the number of economically inactive individuals between 2019 and 2020 is likely to cause a rightward shift in the Long-Run Aggregate Supply (LRAS) curve.
47 exam-style questions on Edexcel A A Level Economics 2.1.3 Employment and unemployment. Each one has a worked solution and a mark scheme showing where the marks go.