What is the term used for the situation when there is an increase in the gap between the employment rate and GDP of the economy? |
Inflation Jobless growth Investment multiplier Marginal propensity to consume |
Jobless growth |
When there is increase in the production of goods and services without increase in the employment rate, we often term it as "Jobless growth". It also indicates a widening gap between the growth of GDP and employment in the country. |