Quits and job openings per unemployed worker
This chart compares job openings and voluntary quits with the number of unemployed workers. It uses BLS labor-market series via FRED and expresses both relative to unemployment, offering a view of worker and employer leverage without measuring job quality or matching efficiency.
What does it show?
Worker leverage has retreated substantially from its 2022 peak as openings and quits have fallen relative to unemployment.
Methodology
Monthly U.S. quits rate (JTSQUR) on the left axis and total nonfarm job openings (JTSJOL) divided by the number unemployed (UNEMPLOY), both in thousands, on the right. All series are seasonally adjusted and retrieved through FRED. The ratio is openings per unemployed person; the two axes are labeled separately.