MACRO-ECONOMICS

Go to the Federal Reserve Economic Data (FRED) website and find the unemployment data for the last 12 months.

Reference https://fred.stlouisfed.org/series/UNRATE/

Months	Unemployment Rate		Months	Unemployment Rate
Apr. 2020		Nov. 2021
May 2021		Dec. 2021
June 2021		Jan. 2022
July 2021		Feb. 2022
Aug. 2021		Mar. 2022
Sept. 2021		Apr. 2022
Oct. 2021		May 2022

1. List/Indicate the unemployment rate for the last 12 months and the unemployment rate of April 2020 in the table above.
2. What are your thoughts about the current state of the economy in terms of unemployment based on the FRED data for the last 12 months relative to April 2020?
3. Explain which type of unemployment (natural or cyclical unemployment) is currently happening in the last few months? Was the unemployment type the same when the pandemic had peaked in April 2020?
4. Explain which type of workers are the most affected based upon your learning from the textbook and local news - e.g. by age, by skills, discouraged workers, under-employed workers, etc.?