30 sigma

R code for a chart of 30 sigma jobless claims event

Earlier today I tweeted out a chart of the U.S. Labor Departmentโ€™s estimate of initial jobless claims Link to pdf report.

Below I share R code to generate a chart like the one above.

We can get data from the St.ย Louis Fedโ€™s Federal Reserve Economic Data (FRED).

Then itโ€™s easy to make an animation.

In fact, we can fit it in a tweet if we were in a hurry. With so much volatility I find myself in a hurry often recently.

library(gganimate)
quantmod::getSymbols(Symbols="ICSA",src="FRED")
animate(forecast::autoplot(ICSA)+
          transition_time(time(ICSA))+shadow_mark()+
          view_follow()+
          labs(y="",title="Initial Jobless Claims (SA)",
               caption="@lenkiefer: Source U.S. Department of Labor"),end_pause=10)

If we were willing to take a little more time we could style it and add some additional features.

library(tidyverse)

df <- data.frame(date=time(ICSA),val=ICSA) %>% 
  # create a dummy date to stretch out the last frame
  mutate(ind=ifelse(date==max(date),date+2500,date))

a <- 
ggplot(data=df, aes(x=date,y=ICSA/1000))+geom_line()+
  view_follow()+
  geom_point(color="red")+
  transition_reveal(ind)+
  theme_minimal()+
  theme(plot.caption=element_text(hjust=0))+
  labs(x="",y="",title="Initial Jobless Claims (thousands, seasonally adjusted)",
       caption="@lenkiefer: Source U.S. Department of Labor")


animate(a,end_pause=25, nframes=250)