How the variable has evolved over time


Problem

The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that the unemployed have been out of work. One convenient summary measure is the median duration of unemployment. Plot this variable, and comment on how it has evolved over time, particularly during the last recession.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: How the variable has evolved over time
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