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2.1.8 Comparison Between Inflation and Unemployment

Use the graphs to explaion the relationship between inflation and unemployment in the countries listed. Can you explain any patterns here using historical context?

Countries:

The United Kingdom

UK Inflation and Unemployment: 1971-2020 source: ONS

United States Unemployment Rate (%)


source: tradingeconomics.com

United States Annual Inflation Rate (%)


source: tradingeconomics.com