What does the Phillips Curve illustrate about the relationship between inflation and unemployment?

The Phillips Curve shows a connection between inflation and unemployment, suggesting that when inflation is high, unemployment tends to be low, and vice versa. This happens because when the economy is growing and people are spending more money, businesses need to hire more workers, which lowers unemployment. However, as they hire more, they may raise prices to cover their increased costs, leading to higher inflation. For example, during a strong economic period, if a company hires many workers to meet high demand, it might raise its prices, resulting in inflation. Overall, the Phillips Curve helps us understand that there can be a trade-off between these two important economic factors.