UNEMPLOYMENT CLAIMS: 1975, 1982-83 and 2009

By Spencer

The weekly initial unemployment claims are widely reported and various charts show how they have been falling since the peak.

But it is hard to compare the drop in claims this cycle compared to after other severe recessions in the standard charts showing claims over time.

So to make such comparisons easier I though readers might find a chart showing claims after the 1974 and 1982 recessions and this recession on the same scale.

Everyone can draw their own conclusions, but I am surprised to find that the drop this cycle is almost identical to the drop after the 1981-82 recession.