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America’s Scariest Charts: Employment & Initial Unemployment Claims

This is a syndicated repost courtesy of True Economics. To view original, click here. Reposted with permission.

Starting with initial unemployment claims through the week ending September 19, 2020, based on non-seasonally adjusted data:

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  • Initial unemployment claims fell to 796,015 in the week ending September 12 – marking the lowest number of new claims filed in any week since the start of the COVID19 crisis.
  • The new claims rose back to 824,542 in the week ending September 19, bringing the numbers of new claims back above 800,000.
  • The latest 4 weeks average new unemployment claims stand at 830,890 weekly claims, which is above the highest number reached since the peak of the Global Financial Crisis.
  • Pre-COVID19 period historical high was attained in the week of September 1, 1982 at 1,073,500 new claims filed. The latest reading for September 2020 ranks as the 35th highest in the entire history and 10th highest if COVID19 period data was excluded from the set.
  • The latest 3 months cumulative new claims number stands at 13,789,312, down from the COVID19 pandemic peak of 41,865,591.
  • Current cumulative count (3 months) is 4,607,312 above the pre-COVID historical high attained March 1, 1975.
Chart to illustrate the dynamics:

Click to enlarge

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