The U.S. Department of Labor reports statistics on employment and earnings that are used as key indicators by many economists to gauge the health of the economy. Figure 10-4 in the text plots historical data on the unemployment rate each month. Noticeably, the numbers were high during the recessions in the early 1990s, in 2001, and in 2007–2009.

a. Locate the latest data on the national unemployment rate. (Hint: Go to the website of the Bureau of Labor Statistics, www.bls.gov, and locate the latest release of the Employment Situation.)

b. Compare the current numbers with the recessions in the early 1990s, in 2001, and in 2007–2009 as well as with the periods of relatively high economic growth just before the recessions. Are the current numbers indicative of a recessionary trend?