In the current population survey (CPS), there are measures of the total working-age population, the labor force, and total employment. Plot these time series in one chart. In the Solow growth model, the population, the labor force, and total employment are exactly the same thing. Do you think that following this modeling approach might miss important elements of labor market behavior? If so, what?

Answer this question using the Federal Reserve Bank of St. Louis’s FRED database, accessible at http://research.stlouisfed.org/fred2/