Title

Can Machine Learning on Economic Data Better Forecast the Unemployment Rate?

Abstract

Using FRED data, a machine-learning model outperforms the Survey of Professional Forecasters and other models since 2001 in forecasting the unemployment rate.

Publisher

Taylor & Francis

Publication Date

9-1-2020

Publication Title

Applied Economics Letters

Department

Economics

Document Type

Article

DOI

https://dx.doi.org/10.1080/13504851.2019.1688237

Keywords

Machine learning, Forecasting, Artificial intelligence, Unemployment

Language

English

Format

text

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