Relationship of oil price and unemployment

Abstract

There is much economic literature that tries to explain empirically and through varied statistical models, the interaction of continuous fluctuations in oil prices and the unemployment rate. A series of literary articles have been selected as representatively as possible according to the methods used and the countries analyzed. The results are very different, but we can conclude that the shocks in oil prices affect directly or inversely the rate of long-term unemployment depending on the particularities of each economy, the ones that cause that in the short term we will not obtain conclusive results affect.