Figure 3-13 shows the result of applying STL to the number of persons in the civilian labor force in Australia each month from February 1978 to August 1995.
(a) Say which quantities are plotted in each graph.
(b) Write about 3-5 sentences describing the results of the seasonal adjustment. Pay particular attention to the scales of the graphs in making your interpretation.
(c) Is the recession of 1991/1992 visible in the estimated components?
