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econscout
Analysis

Two series, one timeline

Overlay any two indicators over the window where both exist. Jan 1939 to Apr 2026.

First series
Second series
Y-axis
Levels (dual axis) Indexed to 100
Recessions
On Off
Nonfarm Payrolls(Thousands of persons) Industrial Production(Index 2017=100)
1948-49 Recession1953-54 Recession1957-58 Recession1960-61 Recession1969-70 Recession1973-75 Recession1980 Recession1981-82 Recession1990-91 Recession2001 RecessionGlobal Financial CrisisCOVID-19 Recession40M60M80M100M120M140M2040608010019401960198020002020

Left axis: Nonfarm Payrolls · PAYEMS. Right axis: Industrial Production · INDPRO. Both from FRED, latest-revised, read from cache.

Correlation is not causation. Two lines moving together is not one moving the other. A shared trend often traces back to a third force, or to chance. This tool overlays the data. It does not explain it.