Employment is a factor in macroeconomic health of a country.
More employment -> Decent Quality Life for most people.
Tracked using unemployment rate tho.

Unemployment Rate:

The percentage of working age adults actively looking for employment ( labour force ) but not getting it at any given time.
higher unemployment rate -> economic crisis in country.

Inflation

Definition :

\frac{P_{b}^{t} - P_{b}^{t - 1}}{P^{t - 1}} \cdot 100

t -> current year, b -> base year
A trade-off between inflation and unemployment was first identified by A.W.Philips leading to the so called (negativly sloped) Philips curve.

Pasted image 20250310142225.png