The updated version of Okun's Law indicates that a 1 percent increase in the unemployment rate causes a 2 percent decrease in real GDP.
Okun's Law shows the relationship between changes in the unemployment rate and changes in GDP.

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Okun's Law is an empirical relationship between changes in the unemployment rate and changes in real GDP. The updated version of Okun's Law suggests that a 1 percent increase in the unemployment rate leads to a 2 percent decrease in real GDP, indicating a strong negative correlation between the two variables.

The Updated Version of Okun's Law Indicates That a 1