In the Headlines: Petrosky-Nadeau Research Hits Washington Post Front Page

The chart tells the story: “Jobless Rate Soars to 14.7%, Worst Level since Great Depression.”

The front-page story in the Washington Post’s May 8 issue features a graphic from research by Nicolas Petrosky-Nadeau, FRB San Francisco, and coauthor Lu Zhang in their paper, “Unemployment Crises.” The Post notes that the authors analyze historical sources to estimate monthly unemployment rates back to 1890, about 70 years before the beginning of monthly observations from the Labor Department.

The article is forthcoming in the Journal of Monetary Economics.

The Federal Reserve Bank of San Francisco (SF Fed) serves the public by promoting a healthy, sustainable economy, and supporting the nation’s financial and payment systems. With offices in Los Angeles, Seattle, Salt Lake City, Portland and Phoenix, the Bank serves the Twelfth Federal Reserve District, which includes one-fifth of the nation’s population and represents the world’s fourth-largest economy. As part of the nation’s central bank, the SF Fed informs monetary policy, regulates banks, administers certain consumer protection laws and acts as a financial partner to the U.S. government.