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July 2, 2010

Graph of the Day for July 2, 2010

By Randall Hoven

"But when I was sworn in, we were losing 750,000 jobs a month.  Every -- each month, we were losing 750,000 jobs.  The economy was shrinking at 6 percent.  It was contracting by 6 percentage points.  That's faster than it had in decades.  Today, it's growing again.  Today, we've added private sector jobs for five months in a row.  (Applause.)"  President Obama, June 30, 2010.


Data source:  St. Louis Fed/FRED, ICSA series (initial jobless claims, seasonally adjusted) through June 26, 2010.


Hoven's Index for July 2, 2010


Trends (linear regression) in initial jobless claims (extra new claims/week):

Through 2009 (12/27/08-12/26/09):  -2,572/wk

Since February 6, 2010 (last 20 weeks):  +232/wk

Last 16 weeks:  +1,059/wk

Last 8 weeks:  +2,383

Last 4 weeks:  +2,600

Last week:  +13,000

Data source:  St. Louis Fed/FRED, ICSA series (initial jobless claims, seasonally adjusted) through June 26, 2010.


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