Okun’s law

Description of the relationship between growth in output and unemployment in an economy. If growth rises above a level determined as normal in relation to an economy on the basis of long data series, this is associated with a decline in the unemployment rate. However, if economic growth is lower than output growth, the unemployment rate rises. – See growth-employment relationship. – Cf. Monthly Report of the Deutsche Bundesbank of April 2011, pp. 36 ff. (Okunsch’s Law in
Reference to the U.S.A. 1949 to 2010; explanatory notes; references), ECB Monthly Bulletin, June 2011, pp. 92 ff (Okunsch’s Law in the euro area; explanation of striking divergences; overviews; references).

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