Finding a Soft Landing along the Beveridge Curve

Brandyn Bok, Nicolas Petrosky-Nadeau, Robert Valletta and Mary Yilma

FRBSF Economic Letter, 2022, vol. 2022, issue 24, 6

Abstract: As U.S. economic growth slows this year, a key question is whether job openings can fall from historical highs without a substantial rise in unemployment. Analyzing the current Beveridge curve relationship between unemployment and job openings presents a meaningful possibility that labor market pressures can ease and achieve a “soft landing” with only a limited increase in unemployment. This view is supported by high rates of job matching in the U.S. labor market in 2022, despite ongoing employment reallocation across industries.

Keywords: economic growth; Beveridge curve; unemployment; job openings; job matching process (search for similar items in EconPapers)
Date: 2022
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