Revisiting the odd behavior of the Beveridge curve as unemployment stays low

Abstract: At first glance, it seems unlikely that the unemployment rate would remain stable if the number of job vacancies decreased. However, such a scenario played out recently as the number of firms seeking to fill positions by poaching employees from other firms increased, while the ranks of the unemployed remained relatively stable.

Keywords: monetary policy; inflation; COVID-19; labor;

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Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Source: Dallas Fed Economics

Publication Date: 2024-03-05