What is an acceptable unemployment rate? Is the United States 2020 rate acceptable?(1 point)

Question

Responses

at or above 5%, no
at or above 5%, no

at or below 5%, yes
at or below 5%, yes

at or above 5%, yes
at or above 5%, yes

at or below 5%, no

Answer 1

An acceptable unemployment rate can vary depending on economic conditions, but many economists consider an unemployment rate of around 4% to 5% as a sign of a healthy economy.

In 2020, the unemployment rate in the United States spiked significantly due to the COVID-19 pandemic, reaching a peak of around 14.7% in April 2020. Given this context, it would not be considered acceptable in the traditional sense of what constitutes a healthy unemployment rate.

Based on the options provided, the correct response would be:

at or above 5%, no