In analyzing the ‘total_jobs’ time series data, on economic indicators dataset i found both the Augmented Dickey-Fuller (ADF) and Kwiatkowski-Phillips-Schmidt-Shin (KPSS) tests were conducted to assess stationarity.
The ADF test produced a test statistic of -0.12 with a corresponding p-value of 0.95. The critical values at various confidence levels did not reject the null hypothesis, indicating weak evidence against a unit root and suggesting non-stationarity. Conversely, the KPSS test yielded a test statistic of 1.46 with a p-value of 0.01, strongly rejecting the null hypothesis and indicating stationarity. However, a cautionary note was given about the test statistic being beyond the available p-values in the table, suggesting a smaller actual p-value.
The conflicting results between the ADF and KPSS tests imply that the ‘total_jobs’ time series might exhibit difference-stationary or trend-stationary characteristics. Further investigation or transformation of the data may be necessary to achieve stationarity before drawing conclusive insights. These findings should be considered in the context of the specific analysis and may warrant additional exploration to ensure the reliability of the results.