Saturday, October 22, 2011
U-3 Unemployment Rates from Recession Peak to Expansion Trough
Some descriptive statistics of the behavior of U-3 across all post-WWII business cycles using UNRATE and the NBER cycle dating.
The top of each red column corresponds to the peak in the U-3 unemployment rate associated with a particular recession, typically happening after that recession has ended. The lower end of each red column corresponds with the trough in the U-3 unemployment rate experienced prior to the onset of the next recession... note that for the last bar on the chart, the current trough is provisional (the low to date was 8.8% in March, 2011 while in September, 2011 that is 9.1%).