Central Bank’s policy

The assignment would require you to retrieve historical information, as far back as possible. This can be done either

using any alternative sources you may find (e.g. National Statistical Agencies).

You only need to answer the highlighted part.

Do not plagiarism.

Answer preview

China’s GDP was the sixth largest in the world in 2003 after countries like France, Japan, the United States, Germany, and Great Britain. The number of employed people in China increased significantly between 1990 and 2003 by about 96.83 million, which was a result of changes in the country’s employment structure (Cheng, 2019). The unemployment rate of China in 2003 was 4.3%, while that of the United States was 10.7% which was a decrease from 11% in 2002. The number of working people has been increasing by about 5.5 million people every year up to 2020 when COVID-19 distracted the trend. In the U.S., the unemployment rate has been, on average, at 5.74% since 1948 (Trading Economics, (2022). However, in 2020, the rate increased to 14.7% due to the COVID-19 outbreak.

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Central Bank’s policy