Advances and Applications in Statistics
Volume 48, Issue 4, Pages 303 - 316
(April 2016) http://dx.doi.org/10.17654/AS048040303 |
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EXPLORATORY DATA ANALYSIS ON UNEMPLOYMENT RATES IN USA
Jia Luo and Junfeng Shang
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Abstract: The unemployment rate indicates the development extent of economy and finance for a nation and is the reflection and a result of national economic growth. We focus on statistical methodologies of exploratory data analysis to analyze the unemployment rates in the recent eleven years from 2005-2015 in USA. Utilizing the two-way additive model, we can distinguish the dissimilarity on economic growth and employment structures between both cities and years. The trend of national time-series unemployment rates is captured by smoothing methods. The correlation between the unemployment rate and consumer sentiment index is also explored. The unemployment rate serves as an index for describing economy, it is therefore quite appealing to comment on economy for a nation from unemployment rates. |
Keywords and phrases: national unemployment rates, unemployment rates by areas, statistical analysis on unemployment rates, exploratory data analysis, consumer sentiment index. |
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