Seasonal Adjustment Practice Exercises

For each exercise, you are given monthly data for five years. Paste the data into Excel, and then calculate the moving averages and seasonal adjustment factors. Note that once you have entered the formulas into Excel once, it is easy to do the rest of the problems. (Return to Business Statistics home page)

1.

         Data
           2005   2006   2007   2008   2009
     Jan  115.0  115.0  115.0  115.0  115.0
     Feb  126.0  126.0  126.0  126.0  126.0
     Mar  130.0  130.0  130.0  130.0  130.0
     Apr  126.0  126.0  126.0  126.0  126.0
     May  115.0  115.0  115.0  115.0  115.0
     Jun  100.0  100.0  100.0  100.0  100.0
     Jly   85.0   85.0   85.0   85.0   85.0
     Aug   74.0   74.0   74.0   74.0   74.0
     Sep   70.0   70.0   70.0   70.0   70.0
     Oct   74.0   74.0   74.0   74.0   74.0
     Nov   85.0   85.0   85.0   85.0   85.0
     Dec  100.0  100.0  100.0  100.0  100.0

Answers

         Moving Average
           2005   2006   2007   2008   2009
     Jan      x 100.00 100.00 100.00 100.00
     Feb      x 100.00 100.00 100.00 100.00
     Mar      x 100.00 100.00 100.00 100.00
     Apr      x 100.00 100.00 100.00 100.00
     May      x 100.00 100.00 100.00 100.00
     Jun      x 100.00 100.00 100.00 100.00
     Jly 100.00 100.00 100.00 100.00      x
     Aug 100.00 100.00 100.00 100.00      x
     Sep 100.00 100.00 100.00 100.00      x
     Oct 100.00 100.00 100.00 100.00      x
     Nov 100.00 100.00 100.00 100.00      x
     Dec 100.00 100.00 100.00 100.00      x


         Ratio
           2005   2006   2007   2008   2009    Avg  St.Avg.
     Jan      x 1.1500 1.1500 1.1500 1.1500 1.1500   1.1500
     Feb      x 1.2600 1.2600 1.2600 1.2600 1.2600   1.2600
     Mar      x 1.3000 1.3000 1.3000 1.3000 1.3000   1.3000
     Apr      x 1.2600 1.2600 1.2600 1.2600 1.2600   1.2600
     May      x 1.1500 1.1500 1.1500 1.1500 1.1500   1.1500
     Jun      x 1.0000 1.0000 1.0000 1.0000 1.0000   1.0000
     Jly 0.8500 0.8500 0.8500 0.8500      x 0.8500   0.8500
     Aug 0.7400 0.7400 0.7400 0.7400      x 0.7400   0.7400
     Sep 0.7000 0.7000 0.7000 0.7000      x 0.7000   0.7000
     Oct 0.7400 0.7400 0.7400 0.7400      x 0.7400   0.7400
     Nov 0.8500 0.8500 0.8500 0.8500      x 0.8500   0.8500
     Dec 1.0000 1.0000 1.0000 1.0000      x 1.0000   1.0000
                                      Sum:      12       12


    Seasonally Adjusted Data
           2005   2006   2007   2008   2009
     Jan  100.0  100.0  100.0  100.0  100.0
     Feb  100.0  100.0  100.0  100.0  100.0
     Mar  100.0  100.0  100.0  100.0  100.0
     Apr  100.0  100.0  100.0  100.0  100.0
     May  100.0  100.0  100.0  100.0  100.0
     Jun  100.0  100.0  100.0  100.0  100.0
     Jly  100.0  100.0  100.0  100.0  100.0
     Aug  100.0  100.0  100.0  100.0  100.0
     Sep  100.0  100.0  100.0  100.0  100.0
     Oct  100.0  100.0  100.0  100.0  100.0
     Nov  100.0  100.0  100.0  100.0  100.0
     Dec  100.0  100.0  100.0  100.0  100.0
Note: for this data series, there is a regular seasonal pattern. After seasonal adjustment, the data series is perfectly level.
Graph

2.

         Data
           2005   2006   2007   2008   2009
     Jan  115.0  115.0  115.0  115.0  102.0
     Feb  126.0  126.0  126.0  126.0  103.0
     Mar  130.0  130.0  130.0  130.0  102.0
     Apr  126.0  126.0  126.0  126.0  101.0
     May  115.0  115.0  115.0  115.0  100.0
     Jun  100.0  100.0  100.0  100.0  100.0
     Jly   85.0   85.0   85.0   85.0   85.0
     Aug   74.0   74.0   74.0   74.0   74.0
     Sep   70.0   70.0   70.0   70.0   70.0
     Oct   74.0   74.0   74.0   74.0   74.0
     Nov   85.0   85.0   85.0   85.0   85.0
     Dec  100.0  100.0  100.0  100.0  100.0

Answer

         Moving Average
           2005   2006   2007   2008   2009
     Jan      x 100.00 100.00 100.00  91.33
     Feb      x 100.00 100.00 100.00  91.33
     Mar      x 100.00 100.00 100.00  91.33
     Apr      x 100.00 100.00 100.00  91.33
     May      x 100.00 100.00 100.00  91.33
     Jun      x 100.00 100.00 100.00  91.33
     Jly 100.00 100.00 100.00  99.46      x
     Aug 100.00 100.00 100.00  97.96      x
     Sep 100.00 100.00 100.00  95.83      x
     Oct 100.00 100.00 100.00  93.63      x
     Nov 100.00 100.00 100.00  91.96      x
     Dec 100.00 100.00 100.00  91.33      x


         Ratio
           2005   2006   2007   2008   2009    Avg  St.Avg.
     Jan      x 1.1500 1.1500 1.1500 1.1168 1.1417   1.1463
     Feb      x 1.2600 1.2600 1.2600 1.1277 1.2269   1.2319
     Mar      x 1.3000 1.3000 1.3000 1.1168 1.2542   1.2593
     Apr      x 1.2600 1.2600 1.2600 1.1058 1.2215   1.2264
     May      x 1.1500 1.1500 1.1500 1.0949 1.1362   1.1408
     Jun      x 1.0000 1.0000 1.0000 1.0949 1.0237   1.0279
     Jly 0.8500 0.8500 0.8500 0.8546      x 0.8512   0.8546
     Aug 0.7400 0.7400 0.7400 0.7554      x 0.7439   0.7469
     Sep 0.7000 0.7000 0.7000 0.7304      x 0.7076   0.7105
     Oct 0.7400 0.7400 0.7400 0.7904      x 0.7526   0.7556
     Nov 0.8500 0.8500 0.8500 0.9243      x 0.8686   0.8721
     Dec 1.0000 1.0000 1.0000 1.0949      x 1.0237   1.0279
                                      Sum:  11.952       12


    Seasonally Adjusted Data
           2005   2006   2007   2008   2009
     Jan  100.3  100.3  100.3  100.3   89.0
     Feb  102.3  102.3  102.3  102.3   83.6
     Mar  103.2  103.2  103.2  103.2   81.0
     Apr  102.7  102.7  102.7  102.7   82.4
     May  100.8  100.8  100.8  100.8   87.7
     Jun   97.3   97.3   97.3   97.3   97.3
     Jly   99.5   99.5   99.5   99.5   99.5
     Aug   99.1   99.1   99.1   99.1   99.1
     Sep   98.5   98.5   98.5   98.5   98.5
     Oct   97.9   97.9   97.9   97.9   97.9
     Nov   97.5   97.5   97.5   97.5   97.5
     Dec   97.3   97.3   97.3   97.3   97.3
This data series shows a regular seasonal pattern for the first four years, but in the fifth year the increase in the winter months is much less than normal. That means that the seasonally adjusted figure shows a decrease during the winter months.
Graph

3.

         Data
           2005   2006   2007   2008   2009
     Jan  107.0  131.0  155.0  179.0  203.0
     Feb  113.0  137.0  161.0  185.0  209.0
     Mar  116.0  140.0  164.0  188.0  212.0
     Apr  117.0  141.0  165.0  189.0  213.0
     May  115.0  139.0  163.0  187.0  211.0
     Jun  112.0  136.0  160.0  184.0  208.0
     Jly  109.0  133.0  157.0  181.0  205.0
     Aug  107.0  131.0  155.0  179.0  203.0
     Sep  108.0  132.0  156.0  180.0  204.0
     Oct  111.0  135.0  159.0  183.0  207.0
     Nov  117.0  141.0  165.0  189.0  213.0
     Dec  124.0  148.0  172.0  196.0  220.0

Answer

         Moving Average
           2005   2006   2007   2008   2009
     Jan      x 126.00 150.00 174.00 198.00
     Feb      x 128.00 152.00 176.00 200.00
     Mar      x 130.00 154.00 178.00 202.00
     Apr      x 132.00 156.00 180.00 204.00
     May      x 134.00 158.00 182.00 206.00
     Jun      x 136.00 160.00 184.00 208.00
     Jly 114.00 138.00 162.00 186.00      x
     Aug 116.00 140.00 164.00 188.00      x
     Sep 118.00 142.00 166.00 190.00      x
     Oct 120.00 144.00 168.00 192.00      x
     Nov 122.00 146.00 170.00 194.00      x
     Dec 124.00 148.00 172.00 196.00      x


         Ratio
           2005   2006   2007   2008   2009    Avg  St.Avg.
     Jan      x 1.0397 1.0333 1.0287 1.0253 1.0318   1.0334
     Feb      x 1.0703 1.0592 1.0511 1.0450 1.0564   1.0581
     Mar      x 1.0769 1.0649 1.0562 1.0495 1.0619   1.0636
     Apr      x 1.0682 1.0577 1.0500 1.0441 1.0550   1.0567
     May      x 1.0373 1.0316 1.0275 1.0243 1.0302   1.0319
     Jun      x 1.0000 1.0000 1.0000 1.0000 1.0000   1.0016
     Jly 0.9561 0.9638 0.9691 0.9731      x 0.9655   0.9671
     Aug 0.9224 0.9357 0.9451 0.9521      x 0.9388   0.9404
     Sep 0.9153 0.9296 0.9398 0.9474      x 0.9330   0.9345
     Oct 0.9250 0.9375 0.9464 0.9531      x 0.9405   0.9420
     Nov 0.9590 0.9658 0.9706 0.9742      x 0.9674   0.9690
     Dec 1.0000 1.0000 1.0000 1.0000      x 1.0000   1.0016
                                      Sum:  11.981       12


    Seasonally Adjusted Data
           2005   2006   2007   2008   2009
     Jan  103.5  126.8  150.0  173.2  196.4
     Feb  106.8  129.5  152.2  174.8  197.5
     Mar  109.1  131.6  154.2  176.8  199.3
     Apr  110.7  133.4  156.1  178.9  201.6
     May  111.5  134.7  158.0  181.2  204.5
     Jun  111.8  135.8  159.7  183.7  207.7
     Jly  112.7  137.5  162.3  187.2  212.0
     Aug  113.8  139.3  164.8  190.4  215.9
     Sep  115.6  141.3  166.9  192.6  218.3
     Oct  117.8  143.3  168.8  194.3  219.7
     Nov  120.7  145.5  170.3  195.1  219.8
     Dec  123.8  147.8  171.7  195.7  219.6
This data series shows both an increasing trend and a regular seasonal pattern. The seasonally adjusted data shows the increasing trend but smooths out the seasonal variation. Graph

4.

         Data
           2005   2006   2007   2008   2009
     Jan  121.0  150.0  173.0  185.0  210.0
     Feb  133.0  155.0  173.0  192.0  224.0
     Mar  117.0  141.0  166.0  195.0  222.0
     Apr  130.0  152.0  183.0  189.0  224.0
     May  127.0  157.0  175.0  205.0  222.0
     Jun  126.0  147.0  166.0  194.0  208.0
     Jly  126.0  150.0  170.0  187.0  208.0
     Aug  118.0  148.0  168.0  194.0  207.0
     Sep  118.0  148.0  172.0  195.0  215.0
     Oct  125.0  152.0  170.0  197.0  212.0
     Nov  132.0  151.0  165.0  203.0  227.0
     Dec  136.0  166.0  183.0  205.0  223.0
    

Answer

         Moving Average
           2005   2006   2007   2008   2009
     Jan      x 139.08 163.42 183.04 208.46
     Feb      x 141.33 165.08 184.83 209.88
     Mar      x 143.83 166.92 186.88 211.25
     Apr      x 146.21 168.67 188.96 212.71
     May      x 148.13 170.00 191.67 214.33
     Jun      x 150.17 171.29 194.17 216.08
     Jly 126.96 152.38 172.50 196.13      x
     Aug 129.08 154.08 173.79 198.50      x
     Sep 131.00 155.88 175.79 200.96      x
     Oct 132.92 158.21 177.25 203.54      x
     Nov 135.08 160.25 178.75 205.71      x
     Dec 137.21 161.79 181.17 207.00      x
    
    
         Ratio
           2005   2006   2007   2008   2009    Avg  St.Avg.
     Jan      x 1.0785 1.0586 1.0107 1.0074 1.0388   1.0395
     Feb      x 1.0967 1.0480 1.0388 1.0673 1.0627   1.0634
     Mar      x 0.9803 0.9945 1.0435 1.0509 1.0173   1.0180
     Apr      x 1.0396 1.0850 1.0002 1.0531 1.0445   1.0452
     May      x 1.0599 1.0294 1.0696 1.0358 1.0487   1.0494
     Jun      x 0.9789 0.9691 0.9991 0.9626 0.9774   0.9781
     Jly 0.9925 0.9844 0.9855 0.9535      x 0.9790   0.9797
     Aug 0.9141 0.9605 0.9667 0.9773      x 0.9547   0.9553
     Sep 0.9008 0.9495 0.9784 0.9704      x 0.9498   0.9504
     Oct 0.9404 0.9608 0.9591 0.9679      x 0.9570   0.9577
     Nov 0.9772 0.9423 0.9231 0.9868      x 0.9573   0.9580
     Dec 0.9912 1.0260 1.0101 0.9903      x 1.0044   1.0051
                                      Sum:  11.992       12


    Seasonally Adjusted Data
           2005   2006   2007   2008   2009
     Jan  116.4  144.3  166.4  178.0  202.0
     Feb  125.1  145.8  162.7  180.5  210.6
     Mar  114.9  138.5  163.1  191.5  218.1
     Apr  124.4  145.4  175.1  180.8  214.3
     May  121.0  149.6  166.8  195.3  211.5
     Jun  128.8  150.3  169.7  198.3  212.7
     Jly  128.6  153.1  173.5  190.9  212.3
     Aug  123.5  154.9  175.9  203.1  216.7
     Sep  124.2  155.7  181.0  205.2  226.2
     Oct  130.5  158.7  177.5  205.7  221.4
     Nov  137.8  157.6  172.2  211.9  236.9
     Dec  135.3  165.2  182.1  204.0  221.9
    

Graph

The remaining exercises are based on real data. Source: Bureau of Labor Statistics

5.

         Civilian Noninstitutional Population
               1998       1999       2000       2001       2002
     Jan    204,238    206,719    211,410    213,888    216,506
     Feb    204,400    206,873    211,576    214,110    216,663
     Mar    204,547    207,036    211,772    214,305    216,823
     Apr    204,731    207,236    212,018    214,525    217,006
     May    204,899    207,427    212,242    214,732    217,198
     Jun    205,085    207,632    212,466    214,950    217,407
     Jly    205,270    207,828    212,677    215,180    217,630
     Aug    205,479    208,038    212,916    215,420    217,866
     Sep    205,699    208,265    213,163    215,665    218,107
     Oct    205,919    208,483    213,405    215,903    218,340
     Nov    206,104    208,666    213,540    216,117    218,548
     Dec    206,270    208,832    213,736    216,315    218,741
    

Answer

         Moving Average
               1998       1999       2000       2001       2002
     Jan          x  206,578.6  210,335.0  213,933.2  216,452.3
     Feb          x  206,791.8  210,740.3  214,141.8  216,656.3
     Mar          x  207,005.3  211,147.7  214,350.4  216,860.0
     Apr          x  207,219.1  211,556.8  214,558.8  217,063.3
     May          x  207,432.7  211,965.0  214,770.2  217,266.1
     Jun          x  207,646.2  212,372.4  214,985.0  217,468.5
     Jly  205,323.5  207,948.4  212,680.0  215,201.6          x
     Aug  205,529.9  208,339.8  212,888.8  215,417.0          x
     Sep  205,736.6  208,733.1  213,100.0  215,628.3          x
     Oct  205,944.7  209,129.7  213,310.0  215,836.6          x
     Nov  206,154.4  209,529.5  213,518.2  216,042.8          x
     Dec  206,365.9  209,931.6  213,725.4  216,247.9          x
    
    
         Ratio
               1998       1999       2000       2001       2002    Avg
     Jan          x     1.0007     1.0051     0.9998     1.0002 1.0015
     Feb          x     1.0004     1.0040     0.9999     1.0000 1.0011
     Mar          x     1.0001     1.0030     0.9998     0.9998 1.0007
     Apr          x     1.0001     1.0022     0.9998     0.9997 1.0005
     May          x     1.0000     1.0013     0.9998     0.9997 1.0002
     Jun          x     0.9999     1.0004     0.9998     0.9997 1.0000
     Jly     0.9997     0.9994     1.0000     0.9999          x 0.9998
     Aug     0.9998     0.9986     1.0001     1.0000          x 0.9996
     Sep     0.9998     0.9978     1.0003     1.0002          x 0.9995
     Oct     0.9999     0.9969     1.0004     1.0003          x 0.9994
     Nov     0.9998     0.9959     1.0001     1.0003          x 0.9990
     Dec     0.9995     0.9948     1.0000     1.0003          x 0.9987
                                                      Sum:          12

     St.Avg.
         1.0015
         1.0011
         1.0007
         1.0005
         1.0002
         1.0000
         0.9998
         0.9996
         0.9995
         0.9994
         0.9990
         0.9987
             12
    



    Seasonally Adjusted Data
               1998       1999       2000       2001       2002
     Jan    203,937    206,415    211,099    213,573    216,187
     Feb    204,180    206,650    211,348    213,879    216,430
     Mar    204,404    206,892    211,624    214,155    216,672
     Apr    204,633    207,137    211,917    214,423    216,902
     May    204,855    207,382    212,196    214,686    217,151
     Jun    205,085    207,632    212,466    214,950    217,407
     Jly    205,315    207,874    212,724    215,228    217,678
     Aug    205,555    208,115    212,995    215,500    217,947
     Sep    205,796    208,363    213,264    215,767    218,210
     Oct    206,042    208,608    213,533    216,032    218,471
     Nov    206,303    208,867    213,746    216,325    218,759
     Dec    206,542    209,108    214,018    216,600    219,030
    

Graph
There is very little seasonal variation in the total population for the whole country. (How would this be different at a summer resort town?)

6.

         Civilian Labor Force Participation Rate
             1998     1999     2000     2001     2002
     Jan     66.6     66.7     66.8     66.8     66.2
     Feb     66.7     66.8     67.0     66.8     66.6
     Mar     67.0     66.9     67.1     67.0     66.6
     Apr     66.6     66.7     67.0     66.7     66.4
     May     67.0     67.0     67.0     66.6     66.5
     Jun     67.7     67.7     67.7     67.2     67.1
     Jly     67.9     67.9     67.6     67.4     67.2
     Aug     67.3     67.3     67.2     66.8     66.8
     Sep     67.0     66.8     66.7     66.6     66.6
     Oct     67.1     67.0     66.9     66.7     66.6
     Nov     67.1     67.0     66.9     66.6     66.3
     Dec     67.0     67.0     67.0     66.6     66.2
    

Answer

         Moving Average
             1998     1999     2000     2001     2002
     Jan        x     67.1     67.1     66.9     66.7
     Feb        x     67.1     67.1     66.9     66.7
     Mar        x     67.1     67.1     66.9     66.7
     Apr        x     67.1     67.1     66.9     66.7
     May        x     67.1     67.1     66.9     66.6
     Jun        x     67.1     67.1     66.8     66.6
     Jly     67.1     67.1     67.1     66.8        x
     Aug     67.1     67.1     67.1     66.8        x
     Sep     67.1     67.1     67.1     66.7        x
     Oct     67.1     67.1     67.0     66.7        x
     Nov     67.1     67.1     67.0     66.7        x
     Dec     67.1     67.1     67.0     66.7        x


         Ratio
             1998     1999     2000     2001     2002    Avg     St.Avg.
     Jan        x   0.9940   0.9952   0.9979   0.9930 0.9950      0.9950
     Feb        x   0.9955   0.9984   0.9983   0.9991 0.9978      0.9978
     Mar        x   0.9971   1.0001   1.0016   0.9991 0.9995      0.9994
     Apr        x   0.9943   0.9987   0.9973   0.9962 0.9966      0.9966
     May        x   0.9989   0.9988   0.9961   0.9979 0.9979      0.9979
     Jun        x   1.0094   1.0093   1.0055   1.0074 1.0079      1.0078
     Jly   1.0121   1.0124   1.0078   1.0091        x 1.0104      1.0103
     Aug   1.0030   1.0032   1.0020   1.0006        x 1.0022      1.0022
     Sep   0.9986   0.9955   0.9947   0.9980        x 0.9967      0.9966
     Oct   1.0001   0.9982   0.9979   0.9999        x 0.9990      0.9990
     Nov   1.0000   0.9980   0.9984   0.9987        x 0.9988      0.9987
     Dec   0.9985   0.9980   1.0004   0.9988        x 0.9989      0.9989
                                              Sum:    12.001          12


    Seasonally Adjusted Data
             1998     1999     2000     2001     2002
     Jan    66.94    67.04    67.14    67.14    66.53
     Feb    66.85    66.95    67.15    66.95    66.75
     Mar    67.04    66.94    67.14    67.04    66.64
     Apr    66.83    66.93    67.23    66.93    66.63
     May    67.14    67.14    67.14    66.74    66.64
     Jun    67.17    67.17    67.17    66.68    66.58
     Jly    67.21    67.21    66.91    66.71    66.52
     Aug    67.16    67.16    67.06    66.66    66.66
     Sep    67.23    67.03    66.93    66.82    66.82
     Oct    67.17    67.07    66.97    66.77    66.67
     Nov    67.19    67.09    66.99    66.69    66.39
     Dec    67.08    67.08    67.08    66.68    66.27
    

Graph
The labor force participation rate gives the percent of the population that is either employed or looking for work. This number tends to be highest in the summer.

7.

         Employment
             1998     1999     2000     2001     2002
     Jan  128,882  131,339  134,912  136,181  134,177
     Feb  129,482  131,639  135,490  136,577  135,443
     Mar  130,150  132,299  136,054  137,155  135,558
     Apr  130,735  132,552  136,927  137,022  135,903
     May  131,476  133,411  136,685  137,121  136,559
     Jun  132,265  134,395  137,915  137,737  137,181
     Jly  132,769  134,800  137,769  138,239  137,495
     Aug  132,206  134,264  137,308  136,809  137,295
     Sep  131,864  133,555  136,790  136,835  137,377
     Oct  132,424  134,390  137,532  136,885  137,551
     Nov  132,577  134,515  137,461  136,370  136,684
     Dec  132,732  134,696  137,846  136,269  136,599
    

Answer

         Moving Average
            1,998    1,999    2,000    2,001    2,002
     Jan        x  132,602  135,474  137,228  136,321
     Feb        x  132,772  135,725  137,227  136,311
     Mar        x  132,928  135,986  137,208  136,353
     Apr        x  133,081  136,252  137,183  136,404
     May        x  133,244  136,506  137,110  136,445
     Jun        x  133,406  136,760  136,999  136,471
     Jly  131,566  133,637  136,944  136,850        x
     Aug  131,758  133,946  137,042  136,719        x
     Sep  131,938  134,263  137,133  136,605        x
     Oct  132,103  134,602  137,183  136,492        x
     Nov  132,259  134,921  137,205  136,422        x
     Dec  132,429  135,204  137,216  136,376        x
    
    
         Ratio
             1998     1999     2000     2001     2002    Avg     St.Avg.
     Jan        x   0.9905   0.9959   0.9924   0.9843 0.9907      0.9907
     Feb        x   0.9915   0.9983   0.9953   0.9936 0.9947      0.9946
     Mar        x   0.9953   1.0005   0.9996   0.9942 0.9974      0.9973
     Apr        x   0.9960   1.0050   0.9988   0.9963 0.9990      0.9990
     May        x   1.0013   1.0013   1.0001   1.0008 1.0009      1.0008
     Jun        x   1.0074   1.0084   1.0054   1.0052 1.0066      1.0066
     Jly   1.0091   1.0087   1.0060   1.0102        x 1.0085      1.0085
     Aug   1.0034   1.0024   1.0019   1.0007        x 1.0021      1.0020
     Sep   0.9994   0.9947   0.9975   1.0017        x 0.9983      0.9983
     Oct   1.0024   0.9984   1.0025   1.0029        x 1.0016      1.0015
     Nov   1.0024   0.9970   1.0019   0.9996        x 1.0002      1.0002
     Dec   1.0023   0.9962   1.0046   0.9992        x 1.0006      1.0005
                                              Sum:    12.001          12


    Seasonally Adjusted Data
             1998     1999     2000     2001     2002
     Jan  130,093  132,573  136,180  137,461  135,438
     Feb  130,184  132,353  136,225  137,317  136,177
     Mar  130,498  132,653  136,418  137,522  135,920
     Apr  130,868  132,687  137,066  137,161  136,041
     May  131,368  133,302  136,573  137,009  136,447
     Jun  131,403  133,519  137,016  136,839  136,287
     Jly  131,656  133,670  136,614  137,080  136,342
     Aug  131,937  133,991  137,028  136,530  137,015
     Sep  132,090  133,784  137,025  137,070  137,613
     Oct  132,223  134,186  137,323  136,677  137,342
     Nov  132,555  134,492  137,438  136,347  136,661
     Dec  132,661  134,624  137,772  136,196  136,526
    

Graph
The total number of people employed tends to be highest in the summer, but the overall economic situation has a bigger effect on the level of employment.

8.

         Employment-Population Ratio
             1998     1999     2000     2001     2002
     Jan     63.1     63.5     63.8     63.7     62.0
     Feb     63.3     63.6     64.0     63.8     62.5
     Mar     63.6     63.9     64.2     64.0     62.5
     Apr     63.9     64.0     64.6     63.9     62.6
     May     64.2     64.3     64.4     63.9     62.9
     Jun     64.5     64.7     64.9     64.1     63.1
     Jly     64.7     64.9     64.8     64.2     63.2
     Aug     64.3     64.5     64.5     63.5     63.0
     Sep     64.1     64.1     64.2     63.4     63.0
     Oct     64.3     64.5     64.4     63.4     63.0
     Nov     64.3     64.5     64.4     63.1     62.5
     Dec     64.3     64.5     64.5     63.0     62.4
    

Answer

         Moving Average
           1998.0   1999.0   2000.0   2001.0   2002.0
     Jan        x     64.2     64.4     64.2     63.0
     Feb        x     64.2     64.4     64.1     62.9
     Mar        x     64.2     64.4     64.0     62.9
     Apr        x     64.2     64.4     63.9     62.8
     May        x     64.2     64.4     63.8     62.8
     Jun        x     64.2     64.4     63.7     62.8
     Jly     64.1     64.3     64.4     63.6        x
     Aug     64.1     64.3     64.4     63.5        x
     Sep     64.1     64.3     64.4     63.4        x
     Oct     64.1     64.4     64.3     63.2        x
     Nov     64.1     64.4     64.3     63.1        x
     Dec     64.2     64.4     64.2     63.1        x
    
    
         Ratio
             1998     1999     2000     2001     2002    Avg     St.Avg.
     Jan        x   0.9895   0.9906   0.9929   0.9845 0.9894      0.9893
     Feb        x   0.9908   0.9938   0.9954   0.9934 0.9934      0.9933
     Mar        x   0.9953   0.9968   0.9997   0.9940 0.9965      0.9964
     Apr        x   0.9968   1.0030   0.9993   0.9962 0.9988      0.9988
     May        x   1.0012   1.0001   1.0008   1.0016 1.0009      1.0009
     Jun        x   1.0071   1.0079   1.0058   1.0056 1.0066      1.0066
     Jly   1.0099   1.0099   1.0064   1.0095        x 1.0089      1.0089
     Aug   1.0032   1.0032   1.0019   1.0005        x 1.0022      1.0022
     Sep   0.9997   0.9966   0.9975   1.0007        x 0.9986      0.9986
     Oct   1.0025   1.0022   1.0012   1.0026        x 1.0021      1.0021
     Nov   1.0024   1.0017   1.0020   0.9993        x 1.0014      1.0013
     Dec   1.0022   1.0016   1.0044   0.9991        x 1.0018      1.0018
                                              Sum:    12.001          12


    Seasonally Adjusted Data
             1998     1999     2000     2001     2002
     Jan    63.78    64.19    64.49    64.39    62.67
     Feb    63.73    64.03    64.43    64.23    62.92
     Mar    63.83    64.13    64.43    64.23    62.72
     Apr    63.98    64.08    64.68    63.98    62.68
     May    64.14    64.24    64.34    63.84    62.85
     Jun    64.08    64.28    64.48    63.68    62.69
     Jly    64.13    64.33    64.23    63.64    62.64
     Aug    64.16    64.36    64.36    63.36    62.86
     Sep    64.19    64.19    64.29    63.49    63.09
     Oct    64.17    64.37    64.27    63.27    62.87
     Nov    64.22    64.41    64.32    63.02    62.42
     Dec    64.19    64.39    64.39    62.89    62.29
    

Graph
The employment-population ratio is the percent of the population that is employed. It tends to be highest in the summer and lowest in the early months of the year.