Economic Trends

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  • Reassessing the Beveridge Curve “Shift” Four Years Later
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  • Early on in the current recovery, economists and policymakers were worried about a potential shift in the Beveridge curve—an empirical relationship between job openings and unemployment that is viewed as a measure of the efficiency with which the labor market is matching unemployed workers to the available openings. Exactly four years ago, we touched upon this issue here, and argued that it was too early to call what had happened a shift. Well, four years later, we have 16 more quarterly data points to inform us.

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