UK Online Search Trends for Economic Terms (2004–2023) [Figure 4.2]
Figure 4.2 presents a dataset of relative search intensity in the UK for the terms 'inflation' (blue line), 'cost of living' (red line), and 'unemployment' (green line) from 2004 to 2023. The data reveals that while search interest for all three terms fluctuated, there was a dramatic and unprecedented spike in searches for 'cost of living' and 'inflation' starting around 2021. This surge in interest far surpassed previous peaks and the concurrent search levels for 'unemployment', indicating a significant shift in public concern towards rising prices.
0
1
Tags
Economics
Economy
Ch.4 Inflation and unemployment - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
CORE Econ
Social Science
Empirical Science
Science
Introduction to Macroeconomics Course
Related
UK Online Search Trends for Economic Terms (2004–2023) [Figure 4.2]
Imagine a country where, over a two-year period, international events cause major disruptions to its supply of energy and imported goods. A review of the country's internet search data for this period reveals that searches for terms like 'gas prices,' 'heating bills,' and 'grocery costs' increased by over 300%, while searches for 'job openings' and 'unemployment benefits' remained relatively stable. Based solely on this data, what is the most logical inference about the primary economic concern of the population during this time?
Evaluating Economic Indicators
An economic analyst observes that in a specific country from 2021-2023, online searches for terms like 'grocery costs' and 'heating bills' increased fivefold. During the same period, searches for 'unemployment benefits' and 'job openings' remained relatively low and stable. Based on this data, the analyst concludes that job security became the dominant economic concern for the population.
Gauging Public Economic Sentiment
Assessing Public Economic Sentiment