Unemployment and Job Vacancies
The U.S. labor market is characterized by tremendous churning, with approximately 7 million people entering or leaving in a single month. In addition to people moving between jobs, substantial numbers of jobs are created or destroyed each month. Both kinds of changes occur during a cyclical upswings as well as downturns. This suggests that at any given time, unemployed workers coexist with unfilled job vacancies.
Suggested citation: “Unemployment and Job Vacancies,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-08, pp. 14, 08.01.1997.