Page 26 - Policy Economic Report - October 2025
P. 26
POLICY AND ECONOMIC REPORT
OIL & GAS MARKET
? Reduced poverty if all workers have access to work at or above the prevailing rate of
compensation
? Improved wages and working conditions, as employers must compete for workers
? Preventing the unemployed from becoming demotivated or losing valuable skills
? GDP growth as workers are able to afford goods and services
? Reduction in government spending on unemployment benefits and welfare programs
Unemployment can rise above this level due to shocks in the economy, such as the housing market
collapse that occurred in 2007-2008. It can also temporarily fall below this level if the economy is
operating above its efficient capacity, resulting in rising prices and wages.
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