4) Go to the websites: ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt and ftp://ftp.bls.gov/pub/special.requests/lf/aat1.txt and http://bea.gov/national/index.htm#gdp to collect the data on annual average data on CPI index, unemployment rates and real GDP (not the GDP in current dollars) data from year 2004 through 2009 (you need to collect the data from Y2004 to find the rates for Y2005). The first two url links from bls.gov will provide you the data for CPI index and unemployment rate respectively. The url from www.bea.gov will provide the RGDP data from GDP spreadsheet. Illustrate them in a table against the last 6 years and respond to the following two questions:
a. Calculate the changes in inflation rates, unemployment rates and the RGDP growth rates for the years from Year 2005 through 2009 and illustrate them in a new column next to each of the values of the three variables
For CPI: the URL is ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt and take the values from the last column as annual average from year 2000.
For Unemployment: The URL is ftp://ftp.bls.gov/pub/special.requests/lf/aat1.txt
b. Based on those calculations, briefly describe the overall economic performance over the last 5 years and critically predict about these three macroeconomic variables for the coming months of 2010 and the next year.
This posting offers help with calculating changes in inflation rates, unemployment rates and the RGDP growth rates within the case.