Question

Using the World Factbook, how does Peru compare to the US unemployment rate (3.5%)? Why is that economically significant? (1-2 sentences)

Answer 1

because the employment rate is now 9.9 percent

Answer 2

According to the World Factbook, as of 2021, Peru's unemployment rate was 9.9%, which is significantly higher than the US unemployment rate of 3.5%.

Step-by-step explanation:

This difference is economically significant because a high unemployment rate can lead to lower consumer spending, reduced economic growth, and increased government spending on social welfare programs.