Graph of the Week 5/07/2012: Initial Claims for Unemployment
The Graph of the Week is the Initial Claims for Unemployment, which has a Thursday data release from the US Department of Labor, Employment and Training Administration. This graph runs from January 1, 2000 through 4/28/2012. The numbers are seasonally adjusted.
The first peak in this series came 9/29/2001, where there were 517,000 initial claims (possibly all the airline workers being laid off after 9/11?) Then there was a general decline except for a blip up in September 2005. The series bottomed out and then started its sustained upward climb starting in late 2007. It exceeded the 2001 peek in November 2008, and then peaked at 662,000 in March of 2009. Since then it has fallen, and bounced around in the 360,000-380,000 range for most of 2012.
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