Job Vacancies and Firms’ Labor Market Perceptions

Kudlyak, Marianna; Miskanic, Brandon E.

Journal Article

Job Vacancies and Firms’ Labor Market Perceptions

Abstract: During the post-pandemic period, the vacancy-unemployment ratio was at historically high levels, but the strength of overall labor demand was unclear. Analysis using data from the National Federation of Independent Business on firms’ perceptions of the labor market confirms that during that time firms perceived the labor market as being unusually tight relative to historical norms. As of June-August 2024, however, both firms’ perceptions and measures of labor market tightness had returned to their 2019 levels.

Keywords: pandemic; covid19; job vacancies; labor markets; vacancy-to-unemployment ratio;