The Bureau of Labor Statistics (BLS) produces useful data on the US labor market. In this question, you will consider average unemployment duration. Download the data from FRED:

http://research.stlouisfed.org/fred2/series/UEMPMEAN

1.Construct a well-labeled plot of the average unemployment duration for the US for the entire sample.

Upload an image of your answer as a jpeg, png

2.What was the average unemployment duration for the US for July 2021?

Enter the exact number that appears in the data.

3.What is the highest value at which the average unemployment duration for the US has been observed?

Enter the exact number that appears in the data.

4.In which year was the average unemployment duration for the US the highest?

Enter your answer as a four digit integer

5.What is the lowest value at which the average unemployment duration for the US has been observed?

Enter the exact number that appears in the data.

6.In which year was the average unemployment duration for the US the lowest?

Enter your answer as a four digit integer.

7.Compute the average of average unemployment duration for the US for the entire time period.

Round your answer to at least three decimal places.

8.

Since unemployment rate duration data is in units of weeks, thejolo finding rate f is thefour times the reciprocal average unemployment duration: 4 average duration 3': Construct a welllabeled plot of the monthly jobnding rate for the US for the entire sample