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While thinking about what you learned in Chapter 22 & Chapter 24 in your textbook, go to the Federal Reserve Economic Data (FRED) website and find the unemployment data for the last 12 months.
Write a new thread in which you respond to the following prompts:
Months
Unemployment Rate
Months
Unemployment Rate
Apr. 2020
Nov. 2021
May 2021
Dec. 2021
June 2021
Jan. 2022
July 2021
Feb. 2022
Aug. 2021
Mar. 2022
Sept. 2021
Apr. 2022
Oct. 2021
May 2022
List/Indicate the unemployment rate for the last 12 months and the unemployment rate for April 2020 in the table above.
What are your thoughts about the current state of the economy in terms of unemployment based on the FRED data for the last 12 months relative to April 2020?
Explain which type of unemployment (natural or cyclical unemployment) is currently happening in the last few months?
Was the unemployment type the same when the pandemic peaked in April 2020?
Explain which type of workers are the most affected based upon your learning from the textbook and local news – e.g. by age, skills, discouraged workers, underemployed workers, etc.?
Self-reflection: Were you or anyone you know affected by the pandemic with respect to job loss or job change? Do share the experience.
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