Unemployment is a hot button issue in the United States today. Unemployment affects every single person on a daily basis, the unemployment rate determines how many people at any given time are looking for but cannot find work. High unemployment is discouraging for college students considering it means poor job prospects upon entering the workforce. The purpose of this paper is to determine the factors that lead to higher or lower unemployment. This paper will be split into 6 sections. .
The first section will be a description of the dependent variable and the regressors I have decided to include in my first regression it will also include a description of my sources. In this section I will talk about where I got my data and how the data I am using was acquired. The second section will be an analysis of my first regression and the problems and successes of that regression. The third section will be the variables I have selected to include in the next regression I run, this regression will be based on my analysis of the regression I ran in the second section. In the fourth section I will run and analyze the regression using the variables included in the fourth section I will correct the mistakes made and attempt to include more of a complete analysis. In the fifth section I will present my theoretical model that will show what the relationship between the dependent variable and the regressors. The sixth and final section will be my conclusion; this section is where I will state the findings of this paper and translate the data into words that the average person could understand. .
Section1: Description of Variables (First Regression).
The variables I have decided to run my regression on are population, number of colleges/trade schools, education spending as a % of the states GDP, and number of fortune 500 companies based out of that state. My dependent variable is unemployment. For my data on unemployment I used the Bureau of Labor Statistics website.
