Yes, the relationship between the unemployment rate and the vacancy rate is back to its pre-2008 normal. But the relationship between the prime-age employment rate and the vacancy rate is not. Whether the U.S. is now at "full employment" is thus a very dicy and unsettled question: Will McGrew: JOLTS Day Graphs: July 2018 Report Edition: "The Beveridge Curve maintains its levels near those last seen during the expansion of the early 2000s: The relationship between the U.S. unemployment rate and the open job rate is back to its pre-recession normal:

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