• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Canada
  • United Kingdom
  • Subscribe
  • facebook
  • instagram
  • RSS
  • RSMUS.com

The Real Economy Blog

Search

  • Economics
  • Technology
  • Consumer
  • Industrials
  • Finance
  • Real Estate
  • Health Care
  • Life Sciences
Home > Economics > Chart of the day: Number of unemployed persons per job falls to 2

Chart of the day: Number of unemployed persons per job falls to 2

Nov. 11, 2020 by Joseph Brusuelas

  • email
  • Twitter
  • Facebook
  • Linkedin

Recovery of the domestic labor force continues as the number of unemployed persons per job opening in the United States fell to 1.95 in September while individuals continued to be recalled to work. Given the fact that 906,000 private sector workers were recalled in October with permanent job losses largely unchanged at 4.5 million, it is important to note that due to the unusual nature of the pandemic, large shock, and policy put into place that will expire at the end of the year, these data are dynamic and prone to change; therefore one should not assume a steady decline.

This estimate, which is made by culling data from the monthly Bureau of Labor Statistics monthly survey and the Jobs, Openings, Layoffs and Turnover survey, is a lagging indicator of the condition of the domestic labor market and provides insight into its extreme churn. The decline to roughly two workers per job opening is down from the pandemic high established in April of 4.6 and is well below the series high of 6.5 recorded during the height of the Great Recession.

  • email
  • Twitter
  • Facebook
  • Linkedin

Related posts

  • CHART OF THE DAY: Job openings increase, but so does competition for them

    RSM's Chart of the Day shows steep competition for available job openings in the U.S. labor market.

  • CHART OF THE DAY: Americans with no job for 27 weeks or more rises sharply

    Labor market studies by the Federal Reserve show that individuals who experience joblessness for more than 26 weeks face increasing risk of becoming permanently detached from the labor force, contributing to structural unemployment in the economy.

  • CHART OF THE DAY: Existing home sales surge

    Existing home sales surged in July by the most on record, increasing 24.7% from June to a 5.86 million annualized rate. The housing market has been booming as a result of low mortgage rates, which have been hovering…

Filed Under: Economics Tagged With: chart of the day, Joseph Brusuelas, labor

About Joseph Brusuelas

@JoeBrusuelas

Joe Brusuelas, “chief economist to the middle market,” is the preeminent voice championing issues and policies facing midsize companies in the United States and around the world. An award-winning economist, Brusuelas has more than 20 years’ experience analyzing U.S. monetary policy, labor markets, fiscal policy, international finance, economic indicators and the condition of the U.S. consumer.

A member of the Wall Street Journal’s forecasting panel, Brusuelas regularly briefs members of Congress and other senior officials regarding the impacts of federal policy on the middle market and the factors by which middle market executives make business decisions. He also frequently offers his insights on the U.S., Canadian and global economies in the financial media. In 2020, he was named one of the 100 most influential economists by Richtopia.

Before joining RSM in 2014, Brusuelas spent four years as a senior economist at Bloomberg L.P. and the Bloomberg Briefs newsletter group, where he co-founded the award-winning Bloomberg Economic Brief. Earlier in his career, he was a director at Moody's Analytics covering the U.S. and global economies for the Dismal Scientist website. He also served as chief economist at Merk Investments L.L.C. and chief U.S. economist at IDEAglobal.

Primary Sidebar

Other Regions

  • Canada
  • United Kingdom

Categories

  • Economics
  • Technology
  • Consumer Products
  • Industrials
  • Financial Services
  • Real Estate
  • Health Care
  • Life Sciences

Recent Economics articles

  • CHART OF THE DAY: Estimating unemployment during the pandemic Mar. 5, 2021
  • February employment report: The devil really is in the details Mar. 5, 2021
  • Powell statement: Market challenging Fed’s credibility on inflation targeting Mar. 4, 2021

RSMUS.com links

The Real Economy

Middle Market Business Index

MMBI Special Reports

Footer

  • Facebook
  • Instagram
  • RSS

About The Real Economy Blog

The Real Economy Blog from RSM US LLP was developed to provide timely economic insights about the middle market economy. It is offered as a complement to RSM’s macroeconomic thought leadership, including The Real Economy monthly publication and the proprietary RSM US Middle Market Business Index (MMBI).

© 2021 RSMUS.com | Privacy Policy | Cookie Policy

The Real Economy Blog
  • Economics
  • Technology
  • Consumer
  • Industrials
  • Finance
  • Real Estate
  • Health Care
  • Life Sciences