how do import photos from iPhoto into iMovie

I just updated iMovie and now I can't seem to find how to import photos from IPhoto into IMovie. I have opened iPhoto under Libraries but it shows nothing is there? Why did Apple change this? I am trying to create my son's 4th grade class video which is due in the morning -- also it is the last day of school! Yikes :-! Any help would be greatly appreciated!

Thanks!