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The unemployment rates in the US and Japan between March 1993 and March 1999
Date: 12-04-2023
The graph below shows the unemployment rates in the US and Japan between March 1993
Write a report for a university lecturer describing the information shown below.
The above graph compares the proportion of unemployed people in the United States
and Japan from March 1993 to March 1999. It is clear that the unemployment rates in these
experienced rapid growth in rates at the same time. Nonetheless, in 1999, both countries had
nearly the same percentage, which means that the lowest figures in the US were equal to the
highest in Japan.
In March 1993, the unemployment rate in the United States was around 7%, while it
was around 2.5% in Japan. It was observed in 1998, when Japan's rate reached a peak of
approximately 5.2%. The opposite happened in the United States, where the rate fell to 4.8%.
Despite the fact that the processes of changing figures in these countries were diametrically
opposed, the final numbers were astonishingly close. In March 1999, the unemployment rates
in the United States and Japan were about 5.1% and 4.9%, respectively.