1) For overall unemployment rate and unemployment rates for male, female, 16-19 years old, and 20 years & older data, go to http://fred.stlouisfed.org

, look at unemployment data for the years 2005, 2010, and 2015. Use four labor force groups: males and females, for both age groups 16 to 19 years of age, and those 20 years of age or over. assuming that the labor force shares of these four groups are as given in the following table, what would 2005 and 2015 overall unemployment have been if the unemployment rates of the four groups had been at their 2010 level? Interpret the result. Labor Force Shares by Demographic Groups (in percent)

Labor Force Shares by Demographic Groups In Percent) 16-19 YEARS OLD 20 YEARS & OVER MALE FEMALE MALE FEMALE 2005 2.1 2.1 51.2 44.7 2010 1.9 1.9 51.3 44.8 2015 1.8 1.8 51.4 45.0