Why Use This Data Source In Your Models?
The unemployment rate by US state measures the share of the labor force that is jobless in each US state. This is indicative of GDP levels and long-term economic health.
Civilian Unemployment Rate by State - Not Seas Adj
U.S. Bureau of Labor Statistics
Percent, Not Seasonally Adjusted
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Boxcox variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Further differencing is reccommended
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.26 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.83 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 1.77 indicates the data are substantially skewed.
Hartigan's dip test score of 0.03 with a p-value of 0.65 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
The following states do not report for this feature: District of Columbia, Puerto Rico.
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