The goal of the project is to explore the relationship between the growth rate of the economy and the unemployment rate in the last four years since COVID-19.
You'll need to install fredapi first. And to do that use this:
!pip install fredapi- Gross Demostic Product - GDP series
- Unemployment rate series
As anticipated, our analysis reveals a clear relationship between unemployment rates and GDP fluctuations. Notably, during the challenging year of 2020, when unemployment rates surged, we observed a corresponding decline in GDP.
This observation underscores a fundamental economic principle: "With lower unemployment rates, we are more likely to achieve higher gross domestic product (GDP)."
(1) The first inspiration to even work with Fred API was Rob Mulla YouTube video about Economic Data Analysis
(2) How to make you API key as a secret - I put it on a Kaggle discussion
(3) Basic economics concepts on Khan Academy
- 💼 For more, take a look at my work @MohamedYosef101
- 💬 If you have any questions, feel free to contact me via email or LinkedIn.