Question

How does a low unemployment rate affect a nation's economy?

Answer 1

That is a great question to ask an economist, I suggest you put it on that board too
One thing is business realize they have more power over employees, they will look to get the most effort and efficiency out of their employees for the lowest cost, employees will put up with this more then they would in high employment times because they'll feel lucky to even have a job

Answer 2

More small business open as skilled labors lose jobs and seek to replace income by working for themselves, eventually this increase in choices to the consumer well cause the price of services to lower as people attempt to get the most business, in the long run the businesses that can not make it at this lower price point well be driven out of business and a new equilibrium well be set

Answer 3

lol just say the low part, lol so the opposite of those too, sorry those happen in high unemployment