Phillips Curve
An economic concept developed by A. W. Phillips stating that inflation and unemployment have a stable and inverse relationship.
Investopedia Commentary
The theory states that with economic growth comes inflation, which in turn should lead to more jobs and less unemployment. The concept has been proven empirically and some government policies are directly influenced by it.
Related Links
All about Inflation Tutorial
Surveying The Employment Report
What Is Fiscal Policy?
See also: Economics, Frictional Unemployment, Inflation, Natural Unemployment, Okun's Law, Structural Unemployment