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But What Happens at the End of "The Candlemass Road"?

Mark Thoma Sends Us to Julie Hotchkiss of the Atlanta Fed on Layoff, Hiring, and Unemployment Rates

Mark Thoma:

This is from a discussion of the Job Openings and Labor Turnover Survey (JOLTS) from the Atlanta Fed (much of the discussion is about the southern region; also, the unemployment rate is on the left-hand side, not the right-hand side as indicated in the graph). Notice the crash in the hiring rate coinciding with changes in unemployment. The policies that were used to battle the recession didn't put enough emphasis on turning this around.

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