Beveridge Curve
:= description of the inverse correlation between Unemployment and job openings
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It may shift due to: increased in unemployment benefits, participation rate changes, etc. Beveridge curve
The curve, named after William Beveridge, is hyperbolic-shaped and slopes downward, as a higher rate of unemployment normally occurs with a lower rate of vacancies.
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The more inwards, the more efficient the labor market is.
- i.e. the matchmaking between employer and employee is done well.