Should-Read: I want a better summary statistic of the sta...

Should-Read: I want a better summary statistic of the state of the labor market these days than the unemployment rate seems to be!

Nick Bunker: JOLTS Day Graphs: September 2017 Report Edition: "The rate at which workers are quitting their jobs hasn���t changed much over the last year...

...coming in at 2.2 percent in September.... The ratio of unemployed workers to job vacancies was 1.116 in September, the lowest recorded level in the JOLTS data.... As the labor market has tightened, job vacancies are producing fewer and fewer hires. The vacancy yield has been below 1 for several years.... The Beveridge Curve, after shifting outward during the recession, has returned to its 2001���2007 relationship...