Initial Claims for Unemployment: Graph of the Week 10/22/2012
The Graph of the Week shows the initial claims for unemployment. A four-week moving average is shown, to smooth out some of the gyrations in a weekly series.
The data comes from the US Department of Labor, Employment and Training Administration, downloaded from FRED, the St. Louis Fed's Economic Database.
There are three peaks co-inciding with the three recessions over this period. As you can see, the peak during the Great Recession is approximately 150,000 claims higher than the peaks in the other two recessions. The average over this entire period is 374,900. If you only looked at the period from 1990 to 2008, the average is 357,900. For the past three months, we have been bouncing around in the 360,000 to 370,000 range.
Copyright 2003-2007 BJK Research LLC