Friday, December 11, 2009
Rolling 12 Month Total - UE Final Payments
This is another case where the data had to be copy-pasted into a .csv and then imported into a spreadsheet to make the plot...it is the 12 month rolling total number of final UE benefit payment recipients, i.e. folks who have exhausted their standard 26 weeks of unemployment benefits over the previous year.
What struck me was the change in character of the peak count curve over time - what is quite a sharp peak after the first recession in the '70's (recall it is a twelve month total, so it will lag) becomes a somewhat broader peak in the double dip recession of the '80's, then it changes character significantly in the '90's recession becoming a much blunter and broader peak - and the final transformation into a plateau after the first recession of the '00's (double oughts?).
The question being, should the progression continue as the changes in the curve shape reflect broad changes in the makeup of the US economy and work force? And would that mean an even broader plateau at a much higher level now?