Describe changes in the size of the labor force, the level of employment, and the level of unemployment over the past several years. Describe changes in the unemployment rate. Describe trends in the labor force participation rate and the employment-population ratio.

USE THIS LINK : https://fred.stlouisfed.org/graph/?g=QOBA

• When looking at FRED time series charts, the gray bars indicate recessions. The white space between the gray bars are expansions. The date of the peak corresponds with the left edge of the gray bar. The date of the trough corresponds with the right edge of the gray bar.
• Examine changes in Labor Force, Employment, and Unemployment levels.
  • Look at the general trends over the entire period since 1950.
  • Adjust the slide bar or click in the date box above the chart to change the start date to 1/1/2000. Examine the trends before and after Great Recession up to the start of the Pandemic in 2/20. Compare the impact of the Great Recession and the Pandemic on the LF, E, and U.
  • Adjust the slide bar or click in the date box above the chart to change the start date to 1/1/2020. Examine the changes between the peak of the business cycle in 2/20, the trough of the business cycle in 4/20, and the present. Compare the values for all variables in 2/20 and 5/22.