Do Unemployment Benefits Expirations Help Explain the Surge in Job Openings?

Samuel Kapon, Fatih Karahan and Kaivan K. Sattar

No 20140930, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: Job openings are arguably one of the most important indicators of recovery in the labor market, as they reflect employers? willingness to hire. The number of job openings has recovered steadily since the recession, yet through the end of 2013, the openings rate was still substantially below its pre-recession peak (see chart below). Starting in January 2014, however, the number of job openings increased dramatically, up by 20 percent through June 2014, and job openings relative to employment jumped back to the peak of the previous expansion. In this post, we argue that the expiration of the Emergency Unemployment Compensation (EUC) program may have contributed to this rapid rise in 2014.

Keywords: labor markets; EUC; unemployment benefits; vacancies (search for similar items in EconPapers)
JEL-codes: E2 J00 (search for similar items in EconPapers)
Date: 2014-09-30
New Economics Papers: this item is included in nep-mac
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