Unemployment as a social issue
Unemployment is as much a social issue as it is an economic issue. It has different effects on the society as a whole.
Macroeconomics is a category of economics that deals with the behavior of the aggregate economy (Mankiw 96). The behavior of a given economy is looked into under a variety of economic phenomena such as price levels, inflation, growth rate, national income, changes in employment and gross domestic product. Macroeconomics is mainly concerned with trends in the economy and and its general development.