During an economic expansion, new job opportunities appear, not only for the unemployed but also for those who already have jobs. This means that workers might seek alternative employment, but it also means that businesses might try harder to keep their current workforces as the pool of available labor begins to run dry.
Suggested citation: “Job Tenure,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-10, pp. 12, 10.01.1998.