1.Provides a clear definition of the unemployment rate including how it is calculated. You should define the U-4 rate and discuss how it differs from the “headline rate.” In your discussion be sure to identify how workers are categorized as employed, unemployed, or discouraged.
2. Includes a figure which plots both data series in the same graph and provides a discussion which characterizes the data series (e.g, long-run trend, relative volatility). To help characterize the data series you should calculate the descriptive statistics, including the mean, median, and standard deviation of each. These statistics should be included in a table.
3. Includes a discussion which address notable changes in the unemployment rate around January 2001 to January 2004. Along with noting the cause of this change draw on what you know about GDP to provide context for what occurred?
