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Employment elasticity measures the responsiveness of employment to changes in economic output or GDP. It indicates how much employment changes when there is a one percent change in GDP. The formula used for calculating employment elasticity is: Employment Elasticity = (% Change in Employment) ÷ (% Change in GDP) This concept is important for understanding the relationship between economic growth and job creation in a country, _________ ________ ___ ____ ______ __________ ______ ________ _______ ________ _____ _____.
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