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My heart goes out to all who've lost their job (and those who's health has been impacted by COVID-19). In case you want to get perspective of the huge US impac

My heart goes out to all who've lost their job (and those who's health has been impacted by COVID-19). In case you want to get perspective of the huge US impact of unemployment, see this automated visualization. https://t.co/G5k24nxJRS https://t.co/G5k24nxJRS

hathym 7y ago
Curve flattened.. Vertically.
pmiller2 7y ago
I’d be more interested in seeing the actual unemployment rate presented like this, not the weekly claim numbers.
- mercutio2 7y ago
  March numbers for overall unemployment rate have been published, but they’re wildly inaccurate because their reference date is mid-month, before most layoffs started. So we don’t really know yet with precision, but it’s getting close to Great Recession levels.
  - Spooky23 7y ago
    No, it’s Great Depression levels. You can tell from suppliers. I just got some equipment quoted with a 2 week delivery guarantee. A month ago there was a 10 week backorder due to Chinese supply chain issues. The overall market is imploding. Once you see prices drop, that’s it.
- qnt 7y ago
  The civilians labor force is about 165 million people, so we’ve added about ~5% to the unemployment rate in the last two weeks (say 9m increase in claims). Unemployment peaked at around 25% in the 1930s depression. Rough calcs suggest that could be surpassed: https://www.stlouisfed.org/on-the-economy/2020/march/back-envelope-estimates-next-quarters-unemployment-rate https://www.stlouisfed.org/on-the-economy/2020/march/back-en...
adrianmonk 7y ago
Original tweets (from a different Twitter account, belonging to Len Kiefer, an economist Freddie Mac): https://twitter.com/lenkiefer/status/1245702858449784832 https://twitter.com/lenkiefer/status/1245702858449784832
- andersonvom 7y ago
  And the full blog post with more details: http://lenkiefer.com/2020/04/03/us-labor-market-update-april-2020/ http://lenkiefer.com/2020/04/03/us-labor-market-update-april...
dhimes 7y ago
Jesus. That kind of off-the-chart result is why log graphs were invented. Your link really hammers the disaster home.

hathym 7y ago

Curve flattened.. Vertically.

pmiller2 7y ago

I’d be more interested in seeing the actual unemployment rate presented like this, not the weekly claim numbers.

mercutio2 7y ago
March numbers for overall unemployment rate have been published, but they’re wildly inaccurate because their reference date is mid-month, before most layoffs started. So we don’t really know yet with precision, but it’s getting close to Great Recession levels.
- Spooky23 7y ago
  No, it’s Great Depression levels. You can tell from suppliers. I just got some equipment quoted with a 2 week delivery guarantee. A month ago there was a 10 week backorder due to Chinese supply chain issues. The overall market is imploding. Once you see prices drop, that’s it.
qnt 7y ago
The civilians labor force is about 165 million people, so we’ve added about ~5% to the unemployment rate in the last two weeks (say 9m increase in claims). Unemployment peaked at around 25% in the 1930s depression. Rough calcs suggest that could be surpassed: https://www.stlouisfed.org/on-the-economy/2020/march/back-envelope-estimates-next-quarters-unemployment-rate https://www.stlouisfed.org/on-the-economy/2020/march/back-en...

adrianmonk 7y ago

Original tweets (from a different Twitter account, belonging to Len Kiefer, an economist Freddie Mac): https://twitter.com/lenkiefer/status/1245702858449784832 https://twitter.com/lenkiefer/status/1245702858449784832

andersonvom 7y ago
And the full blog post with more details: http://lenkiefer.com/2020/04/03/us-labor-market-update-april-2020/ http://lenkiefer.com/2020/04/03/us-labor-market-update-april...

dhimes 7y ago

Jesus. That kind of off-the-chart result is why log graphs were invented. Your link really hammers the disaster home.