In a competitive labor market, if there is an increase in labor supply while labor demand remains unchanged, what is the likely effect on the unemployment rate?

In a competitive labor market, when the supply of labor increases but the demand for labor stays the same, it means more people are looking for jobs without more jobs being available. This situation often leads to higher competition among job seekers, which can result in some people becoming unemployed. For example, if a new group of workers, like recent graduates, enters the job market while the number of available jobs remains the same, some of these graduates may struggle to find work. As a result, the unemployment rate is likely to rise because there are more people seeking jobs than there are jobs available. Therefore, an increase in labor supply with unchanged demand typically leads to higher unemployment.