Data Assignment #2-Unemployment Questions about the unemployment rate To begin, find FRED. The easiest technique is to Google FRED. Recall that FRED originates at the St. Louis Federal Reserve Bank. The alternative is to use the URL https://fred.stlouisfed.org/. Scroll down the page until you see the tab for Popular Series. Under this tab, look for Unemployment Rate. Click the link to create a graph of the monthly unemployment rate since April 1994. (You have to change the date on the graph.) On the top right, in the beginning date box, hit 1994, then April. What do the gray bars represent? What is the source of this data? You will find the answer if you scroll below the graph. Move your cursor over the graph to find the highest and lowest unemployment rates prior to January 2007. Record the . Date of the highest unemployment rate Highest unemployment rate . . Date of the lowest unemployment rate Lowest unemployment rate Move your cursor over the graph to find the highest unemployment rate during the Great Recession. Record the Date of the highest unemployment rate Highest unemployment rate Move your cursor over the graph to find the lowest unemployment rate following the Great Recession through January 2022. Record the . Dates of the lowest unemployment rate (three answers) Lowest unemployment rate Save the graph-just in case you need it later. Click the blue Download button in the upper right corner of the graph. Select PDF Graph. . . In the upper right corner above the graph, click the printer icon. Click save. Follow the prompts on your screen. Questions about the labor force participation rate In the upper right corner of the screen, find the Search FRED box. Type in labor force participation ratio. Click the Labor Force Participation Rate. It should be the first option on the list. Notice the various other participation rates calculated.To make this easier to read, we want to remove some of the monthly fluctuations. . Click the orange/red Edit Graph button. . Scroll down to Modify Frequency. From the drop-down box select Annual. Move your cursor over the graph to find the lowest labor force participation rate prior to January 2007. Record the Dates of the lowest labor force participation rate Lowest labor force participation rate Move your cursor over the graph to find the highest labor force participation rate prior to January 2007. Record the Dates of the highest labor force participation rate . Highest labor force participation rate Describe the behavior of the labor force participation rate since its peak. How might you explain this behavior