U.S. Bureau of Labor Statistics
Percent, Seasonally Adjusted
The unemployment rate for african american & black men 20 years and over measures the share of the labor force that is above 20 years old, male, and african american or black that is jobless in the US. This is indicative of GDP levels and long-term economic health.
The data shows autocorrection and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Arcsin variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Unemployment Rate: African American Men 20+
Auto Correction Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Data shows autocorrectation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.32
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.32 p-value = 0.01 indicates that the data is not stationary.
The Shapiro-Wilk test returned W = 0.93 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of 0.32 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.04 with a p-value of 0.28 inidcates the data is unimodal
Statistics (Pearson P/ df, lower => more normal)
U.S. Bureau of Labor Statistics, Unemployment Rate: 20 years and over, Black or African American Men [LNS14000031], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS14000031, December 19, 2019.