Does the unemployment rate tells us anything about the economic health of an economy?

obtain data from any websites familiar to you on what has been the rate of unemployment in Australia for the last 5 years(2001-2006).
Does the unemployment rate tells us anything about the economic health of an economy?
Explain by providing any relevant data to support your arguement.
(hint : you could provide data on the economic growth rate for the same period.)

please give the sources of any data.

thanks for helping my assignment.

Chosen Answer:

Well, when they say that “Unemployment is Down”, they are not telling the complete truth, because they are only counting the people who are actually collecting Unemployment benefits, not the ones who exhausted their benefits and have not been active within the unemployment system.

See what I mean?

They can’t keep track of people who are not employed and not reporting anywhere.

Yes, it does effect the economy. When I am unemployed, I buy things that I need, not what I want.
by: Mr. Spin
on: 9th September 07