Being Unemployed Affects The Living Standards Essays

704 Words Nov 8th, 2015 3 Pages
Being unemployed affects the living standards not only economically but also for their well-being. The unemployment rate for Sudan as of 2014 is 13.6% of the population, that seems like a small percentage but Sudan 's population is small. The living standards in Sudan must be bad for the unemployed people because without a job, they can 't feed their family. The unemployment rate in America is low at 6.2% of its population, most people there probably live comfortably because they have a job.

Sudan has a budget deficit of 2.6% of it 's GDP, this is bad because it doesn 't have the biggest GDP so it means that if it 'll accumulate a lot of debt in the future. The budget deficit of America is 2.8% of its GDP, its not as bad because the GDP is large. Because their economy is in a stable position the citizens will also be in a good state. Inflation rates in America is 1.6%, this is really good because the ideal rate is 1%-2% one of the reasons why it 's good is because low inflation rates mean low interest rates for the citizens so they don 't have to pay as much interest. Inflation rates in Sudan is very high, it 's 36.9%. This is bad because people will buy as many things even if they don 't need it before it inflates even more, it also encourages debt and ultimately lead to unemployment because higher rates means businesses will fail. America 's debt is very high, it 's $17.26 trillion as of 2014. If America keeps going like this, people who live in America will have to pay…

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