This is related to economic data.

Please download data from FRED through:

https://fred.stlouisfed.org/series/LES1252881600Q#0

And the unemployment rate. from 2010-2023.

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

Make sure both data series are quarterly. Plot this data in excel with real earnings/wages on the y-axis and the unemployment rate on the x-axis. This is the market-level wage setting curve. Make one graph that includes data for all years, and a second graph that omits the pandemic years (2020-2023).

What relationship do you expect to see between earnings and unemployment? Explain.

The pandemic period seems to violate this trend? Why might we see relatively high wages during the pandemic?