This is called a circle progression, named for the circle of fifths (or fourths, if you like). The circle progression in C Major uses the chords diatonic to C Major, so the roots don't match exactly with the circle of fifths.
The example in the question is a circle progression in A Minor, but in jazz it would be much more common to use an E7 instead of an E-7 as the penultimate chord, since this provides a stronger push to the tonic. The circle progression would in that case no longer be diatonic, though. This circle progression might make more sense as:
I IV vii° iii vi ii V I
or, in C Major:
CΔ FΔ B∅ E-7 A-7 D-7 G7 CΔ
since this progression contains a ii - V leading back to the I at the end. It is worth pointing out that the last 5 chords in this sequence are a version of the infamous Rhythm changes played so frequently in jazz: iii7 - vi7 - ii7 - V7 - I7.