THE RATE OF UNEMPLOYMENT IN GREECE
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Procedia Publish Group
Abstract
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Unemployment is one of the main factors of economic performance that indicates whether the people are ready to contribute to the economy by increasing the output. The high unemployment rate can lead to serious issues in both economics and society. There have been many studies to identify what factors affect unemployment in countries.
This paper will first discuss the studies conducted earlier on the factors influencing unemployment and their significance for several regions, and then the case of Greece will be analyzed together with empirical analysis and OLS assumptions. The conclusions are made according to the results of our analysis. The results obtained from our model can help us to identify what improvements can be made in the policymaking process.
Keywords
unemployment,empirical analysis, OLS assumptions, correlation, linear regression model.