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

The Phillips Curve shows the relationship between inflation and unemployment, suggesting that when inflation rises, unemployment tends to fall, and vice versa. This happens because when prices go up, businesses often make more money, which can lead them to hire more workers, reducing unemployment. However, if inflation is too high, it can create uncertainty, causing businesses to slow down hiring or even lay off workers, which may increase unemployment. For example, during a booming economy, increased spending can lead to higher prices and lower unemployment, but if inflation gets out of control, it could hurt job growth. Overall, the Phillips Curve helps us understand how these two important economic factors can influence each other.