JOLTS Day Graphs: February 2020 Report Edition
1.
Two months prior to social distancing measures, the quit rate remained steady at 2.3%, reflecting confidence about the labor market before the unexpected decline in economic activity.
![](https://equitablegrowth.org/wp-content/uploads/2020/04/playfair-74.png)
2.
The vacancy yield reflected a tight labor market with more job openings than hires taking place for the month of February.
![](https://equitablegrowth.org/wp-content/uploads/2020/04/February-Jolts-Vacancy-yield-.png)
3.
February was the last month of low unemployment at a rate of 3.5%. Before March’s increase to 4.4%, there was fewer than one unemployed worker per available job opening.
![](https://equitablegrowth.org/wp-content/uploads/2020/04/February-JOLTS-tightness.png)
4.
The Beveridge Curve reflected an expansionary labor market before heading into the economic contraction necessary to address the coronavirus public health crisis.
![](https://equitablegrowth.org/wp-content/uploads/2020/04/February-JOLTS-BC.png)