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Unemployment Rate Regression Analysis

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I am writing a paper on the unemployment rate with regression analysis. The unemployment rate is my dependent variable. I figure labor market congestion, natural rate of unemployment, seasonal unemployment rate, cyclical unemployment rate, lag time of finding a new job are some of my independent variables. However, I am not just looking at the unemployment rates I am also adding variables of my own to find the effects of sports facilities on the unemployment rate. Variables such as announcement of construction, during construction, after construction, and the fan attendance. Any suggestion on what other variables I could include? And am I on the right track??

My Equation thus far:

Unemp Rate= beta0+beta1(LabMCOng)+beta2(lagtime)+beta3(NatUnemp)+
beta4(seasURate)+beta5(cycURate)+beta6(AnnC)+beta7(DurC)+beta8(AftC)+beta9(Fan Att)+ Error term

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Solution Preview

So far your equation looks fine. I assume that by "during construction" you mean the unemployment rate at this time. This would be time series data, as opposed to cross sectional. Time series data are acquired over a period of time, for example on a monthly basis. Cross sectional data would take a snap shot of the statistic at one point in time. Times series data can be tricky. For example, you need to be concerned with time ...

Solution Summary

Development of regression analysis to determine effects of sports facilities on the unemployment rate