Over past crises, the duration of the period of rising unemployment averaged nearly five years, with a mean increase in the unemployment rate of seven percentage points, which would bring the U.S. to double digits.
The Isle of Man has seen a 0.3% increase in the rate of unemployment, according to official Treasury figures.
Not long ago this country was faced with several years in a row of declining federal tax revenues (both in absolute dollars and as a percent of GDP), simultaneous declines in GDP growth from over 5% to less than 1%, and a 50% increase in the rate of unemployment.
Greece had the greatest increase in its unemployment rate of all the European Union countries last year, climbing from 14.3% in December 2010 to 21% a year later, according to figures from Eurostat, the European Union statistics office.
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This could encourage workers to pass up potential job opportunities. (It could also encourage people to register as unemployed, without affecting underlying labour supply.) Most studies suggest that the extensions can be blamed for an increase in the unemployment rate of about a percentage point, although a new report from the Federal Reserve Bank of San Francisco says the effect is much smaller, just 0.4 percentage points.
After controlling for population and the number of police officers in each county, the study found that a one percent point increase in the local unemployment rate leads to a 6.4 percentage point increase in the number of traffic tickets.
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But when an economy experiences a significant increase in the rate of inflation, it nearly always ends up with an unemployment rate that goes along for the ride.
He reckons that starting from current levels of volatility, eliminating the business cycle would increase average well-being by the equivalent of a fall in the unemployment rate of only 0.2 percentage points.
She notes that each percentage point increase in the unemployment rate leads to a 1.1 million increase in the number of uninsured.
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Those of us over age 50 remember that the outbreak of inflation in the 1970s led to record high interest rates and a wrenching recession that saw a four percentage point increase in the unemployment rate and a tripling of the federal budget deficit between 1979 and 1982.
The impact on the Social Security system of a 1% rise in unemployment is far greater than that of a 1% increase in the inflation rate.
"The only way to decrease the unemployment rate is to increase the number of jobs, " said Republican Assemblyman Andy Goodell of Chautauqua County.
Jobs increase by an average of 1.3 million per annum while the unemployment rate drops 0.7 percent at its lowest point.
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This will be the final step of a three-step increase enacted in the spring 2007, when the unemployment rate was 4.5%.
The Congressional Budget Office estimates that the rate of unemployment below which wage pressure will tend to increase inflation is 5.8%.
With an estimated 40% unemployment rate, Swaziland's need to increase the number and size of small and medium enterprises and attract foreign direct investment is acute.
In economic news, the German unemployment rate rose sharply in January to 3.617 million, an increase of 342, 000 people from December, according to the country's Federal Labor Office.
There also has been an increase in the unemployment rate to near 15%, and banks have virtually stopped lending as a result of the overall European credit crisis.
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