Unemployment rate predictions for coming 10 years

[gultena]

Hello, I have my dataset from 1991 to 2020 and I will predict unemployment rates for coming 10 years. I have prepared my model with Linear Regression but I could do prediction only for a year (2021). How can I extend this to coming 10 years. 2021-2022-2023 and so on? Thank you.

[mlauber71]

@gultena welcome to the KNIME forum. You could take a look at this discussion also about unemployment rates.

Can KNIME be used to show the employment and unemployment rate in the UK from the year 2008-2018, showing the prediction for the next year?

I set up an environment that first transforms you data from 2008-2016 into a table that has the Area (region) as an ID since I understand that is the unit you would want to predict. [image] The Target is taken from 2017 “Emp UK percent”. If you want Unemployment you would have to change that. The years are transformed into columns, while the first year of the data becomes _0 and the year before that _1 and so on. [image] Then I construct a Test dataset using the data of past 9 years from …

Also this thread about numerical predictions might help. You will have to think about what data you have to predict a future outcome and how reliable that might be:

I need to forecast Total Agricultural Tractors sales Volumes

@dariobalmas, welcome to the forum. There could be several ways to do this. We recently had two discussions about regression predictions with historical data. You could check them out and use the accompanying workflows as an example: