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Go to the St. Louis Federal Reserve FRED database, and find data on civilian employment (CE16OV) and a measure of real wages in the non-farm business sector (COMPRNFB). Convert the employment measure to “Quarterly†using the frequency setting, and download the data.
a) Calculate the percentage change in real wages and employment from the previous quarter to the most current period. Based on your results, how have labor supply and labor demand changed, if at all?
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