Analysing the factors effecting on unemployment rate and recent trends in labour market of Uzbekistan
Abstract
This article analyzes the impact of economic growth (GDP), inflation and population growth on unemployment rate and the significance of the relationship among them in Uzbekistan. Such significant relationships are among the variables that are proven by performing OLS method altogether testing their normally distribution by Jarque-Bera. Literature reviews and related journals and articles are searched to support our findings though. The impact of economic growth, inflation and population growth on the unemployment rate, and the significant link among them, have shown that only high levels of economic growth, population growth rate have strong impact on unemployment rate, 1% increase in these independent variables have led to a certain reduction in the unemployment rate . In contrast to the study articles and scientific research, we find that the increase in the number of population leads to a decrease in the unemployment rate by 0.014 percent. It has been scientifically and practically analyzed in the article during the discussion on why such a result has occurred. Conclusions and results were compared with other scientist and researchers` findings and conclusions.