JOLTS Day Graphs: August 2020 Edition
The quits rate declined slightly to 2.0% in August as the tenuous recovery stalled.
![](https://equitablegrowth.org/wp-content/uploads/2020/10/August-quits-1080x762.png)
The vacancy yield edged up slightly as job openings declined and hires were unchanged. The steady hires rate was a result of increased government temporary hiring for the Decennial Census balanced by decreased hiring in accommodation and food services and healthcare and social assistance.
![U.S. total nonfarm hires per total nonfarm job openings, 2001–2020](https://equitablegrowth.org/wp-content/uploads/2020/10/August-yield-1080x762.png)
The ratio of unemployed-worker-per-opening dropped to nearly 2:1 as the slight decrease in job opening rate was offset by a greater decrease in the unemployment rate.
![U.S. unemployed workers per total nonfarm job opening, 2001–2020.](https://equitablegrowth.org/wp-content/uploads/2020/10/August-u-by-hires-1080x762.png)
The Beveridge Curve moved closer to its position prior to the pandemic, but remains in unprecedented territory as the unemployment rate remains elevated, alongside a job opening rate that has returned to its lower early 2020 levels.
![The relationship between the U.S. unemployment rate and the job opening rate, 2001–2020](https://equitablegrowth.org/wp-content/uploads/2020/10/August-2020-1080x921.png)