# Econ 504 2 The FRED data site and forecasting environments questions

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### Question Description

I just need the answer for question 2 and question 3 in attached file.

(The FRED data required in question#2 is from https://fred.stlouisfed.org.)

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Prof_Parker
School: UIUC

Attached.

2. From the FRED data site download data on U.S. civilian unemployment rate (monthly, seasonally
adjusted) in Excel for the entire period for which the data are available.
a. How is the civilian unemployment rate defined? What is the source of the FRED data? Check out there
(i.e., at the source) at what dates the corresponding monthly unemployment rates for the months of
February, March, April, and May of 2019 will be released.
The unemployment rate is defined as the number of unemployed persons as a percentage of the labor
force who live in the United States.

The source of the data is the U.S. Bureau of Labor Statistics
The Employment Situation for February, March, April, and May of 2019 is scheduled to be released as
follows:

February 2019 Mar. 08, 2019 08:30 AM
March 2019

Apr. 05, 2019

08:30 AM

April 2019

May 03, 2019

08:30 AM

May 2019

Jun. 07, 2019

08:30 AM

b. What were the civilian unemployment rates in November and December of 2018?
The civilian unemployment rates in November 2018 was 3.7 whereas in December, the civilian
unemployment rate rose to 3.9.

6
4

UNRATE

8

10

c. Plot the series in R. What was the highest unemployment rate in the series and when (what month
and year) did it happen? When was the unemployment rate at its lowest and what was the rate?

1980

2000

2020

DATE

The highest unemployment rate was 10.8, recorded in November and December 1982. The lowest
unemployment rate was 2.5, recorded in May and June 1953.
d. Consider the sa...

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Anonymous
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