The following data is from the Bureau of Labor Statistics (BLS). (https://data.bls.gov/ timeseries/LNS14000000)
Category may 2022
Civilian nonistitutional population 263,679
Civilian labor force 164,376
Participation rate 62,3
Employed 158,426
Employed-population ratio 60,1
Unemployed 5,950
Not in labor force 99,302
a. Calculate the unemployment rate for May 2022. (show your work) Use the Bureau of Labor Statistics Website, to answer the next two questions ( b and c). Looking at the last 10 years of data:
b. What was the rate, month and year for the highest unemployment rate?
c. What was the rate, month and year for the lowest unemployment rate?
