Question: The assignment gives you a hands on experience with macroeconomic data. In this assignment, you will construct a FRED graph that compares the unemployment rate
The assignment gives you a hands on experience with macroeconomic data. In this assignment, you will construct a FRED graph that compares the unemployment rate in Collin County to the unemployment rate in any other county in Texas.
In this assignment you will demonstrate:
- Your ability to access macroeconomic data using FRED.
- Your ability to analyze graphs of unemployment data.
First you will need to access FRED's data on the unemployment rate inCollin County.(https://fred.stlouisfed.org/graph/?id=TXCOLL5URN,#0)
To add another county select "Add Line" on the top right corner, and search XYZ COUNTY UNEMPLOYMENT RATE, it is up to you to decide which county you will include.The county should be within Texas.
You can save your graph by selecting "Download" and choosing a file type.
Once you have created your graph, answer the following questions.
- What county did you choose?
- Which of the two counties currently has a higher unemployment rate? How much higher is it than the other?
- Has that county always had a higher unemployment rate (during the entire length of the FRED data)? If not, when was the last time the other county had a higher unemployment rate?
- Is there any other takeaway or conclusion you notice by comparing the two graphs?
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