(2) Being another key indicator, employment reflects the current status of an economy. Empirical evidence shows a higher growth rate of national output (GDP) usually goes hand-in-hand with a lower unemployment rate. In a study to the economic impact of the Covid-19 pandemics in the US, you noticed that during the pandemics, unemployment rises across states in 2020. Similarly, after state economies reopened and moved quickly out of the Covid-19 recession, unemployment rates also dropped in most states. However, there are still noticeable regional differences of how the job market performed in different states. The table below compares unemployment rates of Arkansas, California, New York and Texas in October 2019 (10/2019), October 2020 (10/2020) and October 2021 (10/2021). Use your language to explain the differences of unemployment rate between Arkansas and other three states. Unemployment rate (%) of selected States Date Arkansas California New York Техas 10/2019 3.5 3.9 3.9 3.5 10/2020 5.6 9.8 8.7 7.3 10/2021 3.7 7.3 6.9 5.4

ENGR.ECONOMIC ANALYSIS
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(2) Being another key indicator, employment reflects the current status of an economy. Empirical
evidence shows a higher growth rate of national output (GDP) usually goes hand-in-hand with a
lower unemployment rate. In a study to the economic impact of the Covid-19 pandemics in the
US, you noticed that during the pandemics, unemployment rises across states in 2020. Similarly,
after state economies reopened and moved quickly out of the Covid-19 recession, unemployment
rates also dropped in most states. However, there are still noticeable regional differences of how
the job market performed in different states. The table below compares unemployment rates of
Arkansas, California, New York and Texas in October 2019 (10/2019), October 2020 (10/2020)
and October 2021 (10/2021). Use your language to explain the differences of unemployment rate
between Arkansas and other three states.
5725
Unemployment rate (%) of selected States
Date
Arkansas
California
New York
Техas
10/2019
3.5
3.9
3.9
3.5
10/2020
5.6
9.8
8.7
7.3
10/2021
3.7
7.3
6.9
5.4
8
Transcribed Image Text:(2) Being another key indicator, employment reflects the current status of an economy. Empirical evidence shows a higher growth rate of national output (GDP) usually goes hand-in-hand with a lower unemployment rate. In a study to the economic impact of the Covid-19 pandemics in the US, you noticed that during the pandemics, unemployment rises across states in 2020. Similarly, after state economies reopened and moved quickly out of the Covid-19 recession, unemployment rates also dropped in most states. However, there are still noticeable regional differences of how the job market performed in different states. The table below compares unemployment rates of Arkansas, California, New York and Texas in October 2019 (10/2019), October 2020 (10/2020) and October 2021 (10/2021). Use your language to explain the differences of unemployment rate between Arkansas and other three states. 5725 Unemployment rate (%) of selected States Date Arkansas California New York Техas 10/2019 3.5 3.9 3.9 3.5 10/2020 5.6 9.8 8.7 7.3 10/2021 3.7 7.3 6.9 5.4 8
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