Unemployment is measured by the unemployment rate which is the number of people who are unemployed as a percentage of the total labour force. We have seen a sharp increase in the unemployment rate during Covid-19, so analyzing the unemployment rate can be a good data science project. In this article, I will take you through the task of Unemployment analysis with Python.
Unemployment Analysis with Python
The unemployment rate is calculated based on a particular region, so to analyze unemployment I will be using an unemployment dataset of India. The dataset I’m using here contains data on India’s unemployment rate during Covid-19. So let’s start the task of Unemployment analysis by importing the necessary Python libraries and the dataset:
Region Date Frequency ... Region.1 longitude latitude 0 Andhra Pradesh 31-01-2020 M ... South 15.9129 79.74 1 Andhra Pradesh 29-02-2020 M ... South 15.9129 79.74 2 Andhra Pradesh 31-03-2020 M ... South 15.9129 79.74 3 Andhra Pradesh 30-04-2020 M ... South 15.9129 79.74 4 Andhra Pradesh 31-05-2020 M ... South 15.9129 79.74 [5 rows x 9 columns]
Let’s see if this dataset contains missing values or not:
Region 0 Date 0 Frequency 0 Estimated Unemployment Rate (%) 0 Estimated Employed 0 Estimated Labour Participation Rate (%) 0 Region.1 0 longitude 0 latitude 0 dtype: int64
While analyzing the missing values, I found that the column names are not correct. So, for a better understanding of this data, I will rename all the columns:
Now let’s have a look at the correlation between the features of this dataset:
Unemployment Rate Analysis: Data Visualization
Now let’s visualize the data to analyze the unemployment rate. I will first take a look at the estimated number of employees according to different regions of India:
Now let’s see the unemployment rate according to different regions of India:
Now let’s create a dashboard to analyze the unemployment rate of each Indian state by region. For this, I’ll use a sunburst plot:
So this is how you can analyze the unemployment rate by using the Python programming language. Unemployment is measured by the unemployment rate which is the number of people who are unemployed as a percentage of the total labour force. I hope you liked this article on unemployment rate analysis with Python. Feel free to ask your valuable questions in the comments section below.