The US economic recovery and the labour market using WS/PS model

Think critically about the following 'wage setting' (WS) factors at play here in the WS/PS model when reading the following articles(listed in chronological order):

(i) unemployment benefits:

• Dupor, Billand Iris Arbogast (2022) 'Employment Effects of Pandemic Emergency Unemployment Benefits: Incentives Matter', Federal Reserve Bank of St. Louis, August 4th, available:https://www.stlouisfed.org/publications/regional-economist/2022/aug/employment-effects-pandemic-emergency-unemployment-benefits

(ii) working bargaining power (and unions):

• Greenhouse, Steven (2021)'Striketober' is showing workers' rising power - but will it lead to lasting change?', The Guardian, October 23rd, available:

https://www.theguardian.com/us-news/2021/oct/23/striketober-unions-strikes-workers-lasting-change

• Bryant, Chris (2022) 'Workers of the World Are Uniting Again', Bloomberg, June 30th, available:https://www.bloomberg.com/opinion/articles/2022-06-30/labor-strikes-in-uk-us-workers-unite-against-inflation-cost-of-living-crisis?leadSource=uverify%20wall [Free access, see Reading List on ECON1000 Blackboard site]
• Ghilarducci,Teresa (2022) 'Worker Power Is Weakening, Indicators Show', Forbes, September 14th, available:https://www.forbes.com/sites/teresaghilarducci/2022/09/14/worker-power-is-weakening-indicators-show/?sh=57ca92aa5325

In this context, use the WS/PS model to illustrate and explain in some detail what has happened to the USeconomy as it has recovered from the effects of COVID-19 until July 2022 where the unemployment rate was at 3.5%. In your diagram, begin the economy in July 2020 where pandemic containment policies cut global production which led to an unemployment rate of 10.2%.Also, assume there was a strong positive productivity growth over the 2-year period of inquiry.including diagram